Whether small or medium businesses they require to be selective about the amount & types of software that they use for their daily operations. Most of the businesses like to use the software that’s capable of handling several functions simultaneously. QuickBooks is accounting software that fits into all boxes perfectly.
In this article we will learn how to Change your Direct Deposit Bank Account in QuickBooks. Direct deposit is a convenient way to save time on payroll and setting up a direct deposit is incredibly easy. Whether you have QuickBooks desktop Payroll Basic, Premium or Direct Deposit Enhanced, you have the option to change the bank account from where the payroll direct deposit funds are withdrawn from.
Methods to change your direct deposit bank account in QuickBooks
The Requirements to carry out the task are listed below:
- The current Intuit Account.
- Your direct deposit PIN that is being used by you to send payroll. .
How does it work?
To check the new account, you will send a bank account form and a copy of the blank cheque to Xero. After that they’ll be conforming to have received the right form
- Direct Deposit option is not available till the bank change has been accepted.
- It usually takes to two weeks to complete.
- Xero Support notifies the users who have requested the form once the process is finished.
Set up and update the bank account in QuickBooks
Set up a new bank account in the Chart of Accounts in QuickBooks Desktop, if you are yet to build one.
- Select Lists first, then press Chart of Account.
- Then press the Accounts tab, and select New.
- Then choose Bank, and tap continue.
- Next input the details of your bank account.
- and finally tap on Save and Close to save the changes.
Update the information of bank account on the QuickBooks Account Maintenance tab.
- Then Go to Employees in QuickBooks Desktop. Choose My Payroll service, and press Accounts / Billing Details.
- Then Sign in with your Intuit account login.
- Tap on any of Bank Account information in the Direct Deposit section.
- After that Tap OK on the message shown.
- Then Type your payroll PIN, then press submit.
- Input the details of the new bank statement, and press Submit.
- After that wait for confirmation, then tap continue.
Intuit will give the new bank 2 test debits. The test debits can take up to two banking days to be reflected on your bank statement. When sending out your Direct Deposit payroll, you will have to follow the instructions in the section below to enable your new account.
- Select the bank account from which QuickBooks Desktop will post the Intuit service returned transactions.
- It is necessary to update the bank account (Chart of Accounts) in which direct paychecks and fees are reported anytime a bank account is updated.
- First, choose Send Payroll Data from the Employees menu at the top.
- Now after this tap Preferences on the Send / Receive Data window.
- Next open the Account Preferences window, and from the drop-down list select the new bank account.
- Then Press OK to save the updates, then choose close on the Send / Receive Data window.
When you have to pay your employees but the bank account authentication and activation procedures have not been done, you’ll need to submit paper checks.
- Open the new direct deposit bank account
- Check your bank balance after two banking days, and keep a record of the two small one-time withdrawals made by QuickBooks Payroll Service.
- Then enter these 2 check debits on the maintenance page of the QuickBooks account. to do so follow the instructions given below:
- At first Go to Employees, select My Payroll Service, then press Account / billing information.
- Then Sign in with your Intuit account password.
- Next tap on the Verify link beside your account info for the direct deposit bank account.
- Next, to verify your new bank account you must enter the 2 check debit amounts.
- Then enter and check your payroll PIN.
- Finally Tap Submit.
Hopefully, our post and the above mentioned points will help you know how to Change your Direct Deposit Bank Account in QuickBooks If still you come across any doubt in taking the subscription of payroll contact us at QuickBooks Payroll Support and you can also draft a mail of listed queries or issues you faced or struggling with on our mail id at firstname.lastname@example.org. Consult with our executives with the availability of all round the clock and availability geographically. They highly ask your query and then process it, after getting the solution they deliver to you the proper response of your issue. Be informed that our experts are highly qualified in their respective domains. You can also visit our website at www.quickbooksupport.net.