How to set up direct deposit on QuickBooks
QuickBooks allows direct deposits feature to save more time & effort. Many small organizations activate this payroll feature to deposit salaries on their employee account. This blog will cover major concepts related to direct deposits along with its advantages & the accurate step-step guidance to set-up direct deposit in QuickBooks.
It is a feature that permits payment directly on the employee’s account without the inconvenience of manual writing checks. In this process, funds are integrated straight into saving accounts. This method plays an important role in Payroll checks to prevent large efforts.
Why Direct Deposits:
Direct deposit helps in finance management seamlessly. It restricts the no of efforts that you required to go the bank for payment since your money is a direct deposit on the account automatically.
Below-mentioned is the list of reasons that the organization implements direct deposit:
- More Convenient: An employee receives payment via direct deposit; funds are automatically added to their account without any further action. It doesn’t matter where are you staying, the funds will be credited.
- Save money & resources: This electronic method, you don’t require to write checks or sending mail which in turn saves the business investment while saving resources connected with printing tasks. This is less expensive.
- More secure payment: Funds are seamlessly transferred from one account to another in a secure manner. The organization uses direct deposits to perform a secure transaction.
Requirements mandatory while setting up Direct Deposit:
- The QuickBooks version whether it is compatible with direct deposit or not.
- on QuickBooks Desktop Subscription
- Employer Identification Number which is abbreviated as EIN to the payroll
- Internet connection to avoid interruption
- Account is a must to manage entire transactions about Automated Clearing House.
How to Set-Up Direct Deposit in QuickBooks to Receive Payments
Entire steps including editing depositing & setting are done after activating direct deposits for an organization in QuickBooks Desktop Payroll. To perform a direct deposit follows the below- written instructions. It includes filling up a direct deposit Authorization form, verify account information & more.
Following are the list of steps of the setting-up employee for Direct Deposit:
- Initially, Locate Employee & then choose the Employee center to display the list containing details of employee
- Perform a double click on employee’s name with your mouse associated with a system
- After this click on Payment info option
- Now discover Direct Deposit window and select Use Direct Deposit for preferred employee
- Select the deposit account i.e. one or more accounts
- Fill the employee’s financial details including Routing number, account number of employee, Bank name, type of accounts and more
- You are required to input the employee’s amount & percentage that you want to deposit in another account
- Save the detail by selecting an Ok button
How to perform an edit on any employee’s information on direct deposit on QuickBooks?
Below are the steps:
- You are required to open your paycheck & locate the paycheck Detail option
- Unselect the Use Direct Deposit tab appearing on the paycheck details & choose Save and after that click on Save & Close
- At last, reopen the Paycheck and select the Use Direct Deposit tab.
- Hit on Save button.
How to erase the direct deposit profile completely?
If you want to remove the direct deposit setup of an employee then follow the given steps:
- Select Employees and then click Employee Center
- Perform click on the preferred employee that you want to apply modification
- Select Payroll info option
- Hit the Direct Deposit button & clear the field that you want to erase.
How to reach us:
Through this blog, we tried to cover major concepts of Direct Deposit setup on the QuickBooks software. Meanwhile, if you stuck to perform any of the steps or want any assistance regarding QuickBooks error & any other functional error, you can call anytime to the professionals at toll-free QuickBooks number +1800-816-6849. The team has great listening & technical skills to quickly discover the core of your query and provide the best resolution accordingly. There is another method of dropping an email that lets you reach the team instantly.