Easy Setup Guide for QuickBooks Payroll Direct Deposit
Direct Deposit in QuickBooks is the usual method to receive payroll through direct deposit. As a result, QuickBooks payroll direct deposit is the best option. It saves time and money at the same time. Setting up the QuickBooks payroll Direct deposit remains the key concern. Hence it makes the entire payroll efficient.
In fact, if the payroll is set up in QuickBooks. Further, QuickBooks Direct Deposit becomes simple. Setting up the Quickbooks payroll Direct Deposit comes with a wide range of benefits:
- More control over the processing and expenses of Payroll.
- Direct deposit saves the time and cost of printing checks as the complete process is paperless.
- Direct deposit payments are done on time.
- Zero lag in check cashing.
- Reduces the fraud threats and lost checks.
Steps to Set up the QuickBooks Direct Deposit
In order to start the process, it is important to set up payroll with Quickbooks. First, set up the payroll with QuickBooks and complete the following tasks:
- Make sure that the business information is complete.
- Prepare everything needed to pay.
- Make sure of the tax information.
Green check marks will appear if all the procedure is completed.
Once done with the setup- Here are the steps to begin with Direct deposit setup.
Step 1 (Connect the Bank)
In QuickBooks Online, Go to Start >Connect Your Bank> Click on Get started
This will then take you to the verification page of the information that has been entered. The QuickBooks will ask for information about the company’s principal officer, which includes:
- Full name
- Social security number
- Date of birth
- Home address
After the company’s principal offer, go to Add new Bank and search for your Bank. Once found, select the bank and manually enter the account numbers, Wish to have payroll funds drawn against.
- Link the bank account by signing in to the bank.
- Now add a personal identification number for protection
- Quickbooks Online will send a deposit of less than 1$.
- The credit will be named “Intuit: Verify bank” or “ QuickBooks: Verify Bank”
Once done, a verification email is sent, and you will verify it.
Step 2 (Authorize every employee)
Once done with the verification of the bank account, the further step is to manually input all the employee's information for the QuickBooks Payroll Direct Deposit. You can also print a QuickBooks Direct Deposit form to let all the employees fill it out. Also, a void check must be accompanied to complete the form. Since it is provided with the routing and account numbers for employees.
Here are the proper steps to access the authorization for the form:
- Go to Taxes and Forms
- Select the Employee and Contractor Setup
- Click and Select the Authorization for Direct Deposit
- Choose the Bank Verification and then View
After following the above steps, print copies of the form to fill out for employees. Hence, the QuickBooks Payroll Direct Deposit feature is more efficient. Also, it eliminates the printing of checks for employees.
Step 3 (Employee’s Bank Information)
Furthermore, it is important to enter all the banking information of the employees.
- Go to the Employees tab
- Click on each employee and select Set Up to enroll the individual
- Click on the Add an Employee if needed
- Now, enter all the information for the employee (DOB, Hire date, type of pay, etc)
Below each employee, an option for How Do You Want to Pay? Is available. Once, select the Direct Deposit option- Enter all the required bank details and click on Done.
Step 4 (Pay with QuickBooks Online Direct Deposit)
After recording all the employees’ information in QuickBooks Online. Now, you can process payroll via direct deposit.
Final Words :
To Summarize, QuickBooks Online payroll Direct Deposit is an excellent feature with efficiency. I hope the above steps are simple and help you set up direct deposit.