Here in this Blog we will discuss dome of the best steps to set up QuickBooks direct deposit for employees. Follow the blog further to know more.
It’s crucial to note that QuickBooks is small software; the kind of sophistication it contains to keep the financial record accurately is enormous. In comparison, the best feature that any accounting software offers is QuickBooks. Many QuickBooks users face difficulty when they set up QuickBooks direct deposit for employees.
So, in this article, you will learn how to do direct deposit activation in QuickBooks and how to resolve direct deposit issues in QuickBooks. Also, know how it works and what it is.
Let’s move ahead:
What is the deposit direct?
Digital or electronic means of moving the money from one account to another are direct deposits. You may pay using QuickBooks direct deposit for employees. It is used to transmit employee paychecks without being there physically. You can send the money from your account to the bank account of the employee. The employee and the employer get profited from the direct deposit.
How’s the deposit function?
The paycheck is transferred by the employer using QuickBooks direct deposit for employees. After that, your banking institution will release the money into your payday account. The money is deposited into the employer’s account within two working days. This digital transfer of funds is easy for both parties and is beneficial.
What are the steps to set up QuickBooks direct deposit for employees?
To proceed with QuickBooks direct deposit for employees, you must first set up your firm direct deposit payroll and then get an authorization form, then add your employees’ direct deposit, and you’re done. The following is the process of QuickBooks direct deposit for employees:
Step 1: Set up company direct deposit payroll
Here is the method you must follow for QuickBooks direct deposit for employees to pay for a corporation. Therefore, the steps are:
- Get your company, principal officer and bank details first.
- Company name, company address and EIN.
- Home address and date of birth and Principal Office Social Security Number.
- Banking credentials and bank account numbers (user ID and password).
- Connect with your bank.
- Open QuickBooks software on your system.
- Sign up with credentials (User ID and Password).
- Go to the menu Employee.
- In addition, choose the My Payroll option.
- Click the Direct Deposit Activate button.
- Choose Button Get started. If you do not see this Button, complete the following steps:
- Click I’m the Admin, and I’m the primary person… Enter the email of the Admin and user ID.
- To proceed, click Continue.
- Enter Email or User ID and Password for your Intuit account to log in.
- Now, click to start.
- Click the Start button and specify all the details in the Business tab.
- After providing all of the information, click Next.
- Now, enter the Principal officer’s information and click Next.
- Add a new bank account.
- Then give the credentials or if the bank requested a number, enter the bank’s name.
- The PIN for your bank account needs to be created. When you transmit payment or payroll, you have to use this pin. Confirm your PIN twice.
- Click on the Submit button.
- Click the Next Button and click Accept and Submit.
- Upon request, confirm the whole social security number of the principal officer and submit it.
- Now on your screen, you get one of the following messages:
- Thank you for subscribing to the QuickBooks direct deposit for employees. What’s next to direct deposit activation? This signifies that the bank account is connected in some further steps.
- You are now connected to your bank account. You will be prepared to make QuickBooks direct deposits for employees immediately.
- Check-in QuickBooks for your bank account (in case of the bank is not connected automatically in QuickBooks)
- You have to check the bank account in two working days for the tiny debit amount of less than a dollar in the QuickBooks payroll.
- If you can see the account, open the program of QuickBooks and log in as QuickBooks Administrator.
- Click the Employees menu.
- Select My Payroll Service and then click on the Direct Deposit Activation option.
- Sign up now with credentials on your Intuit account (User ID and Password).
- Specify the debit amount twice and then click on verify.
- Enter your already generated Payroll PIN.
- Choose the Submit button and then OK.
- The bank account information of your employee must be set up in this step.
- To set a direct deposit, you must include the employee bank details in QuickBooks.
- Pay your employees
Create the paychecks and then send Intuit a direct deposit. It usually takes around two days. You then deposit your checks immediately on the bank account of the employee and make your deposit directly.
Step 2: Get the Authorization for Direct Deposit Form
Get an authorized deposit form and also an invalid check on the bank account of your employee. These are just for your employees’ records. You don’t need QuickBooks to submit it. This helps you keep track of your employees.
Step 3: Add your employees’ direct deposit
In case the bank of the employee says that the account should be identified as a monetary market, the employee must be notified. Let them know that QuickBooks can only save and monitor accounts. You need to select the Checking from these two possibilities. Verify that:
- Click on the Employees Menu.
- Select the Employee Center from the drop-down menu.
- The Employee List will open, and here you must select the employee’s name.
- Click the Info Payroll tab next.
- Then click the Direct Deposit button.
- The direct deposit window will open.
- Use Direct Deposit in this click (name of employee).
- Select to have one or two accounts deposited with the paycheck.
- Information about the financial institution of the employee must be provided.
- These are the bank name, account number, routing number, and account type information.
- If the deposit on two accounts is mentioned, the employee’s percentage or amount in the Amount Deposit area will be noted.
- A deposit in the other account is required.
- To store all the information, click on the OK button.
- When requested, enter the Direct Deposit PIN for the payroll.
Make sure you verify direct deposit in QuickBooks Desktop at the end.
As you can see, the process of setting up QuickBooks direct deposit for employees is way too long. In case you could not set up QuickBooks direct deposit for employees, consider reading out to QuickBooks Payroll Support. Contact Payroll’s experts always there for the customer’s help.