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Run Payroll in Time for Direct Deposit in QuickBooks

Run Payroll in Time for Direct Deposit

Direct deposit is the computerized transfer of money from one bank account to another. In your capacity as an employer, this means you are sending the proper sum of money from your business bank account to your employee’s bank account. Therefore, direct deposit for your employee refers to their receiving an electronic payment (their paycheck) from your bank account to theirs directly.

Steps to be considered for running Payroll in time for Direct Deposit in QuickBooks

  1. Run payroll by choosing it from the Payroll menu.
  2. To continue, select a payment schedule.
  3. Pick which workers you want to pay.
  4. Check to see if you’ve chosen the proper pay month, bank account, and pay date. You can also change them as necessary.
  5. As necessary, modify the employee’s payment scheme.
  6. Provide your hours worked, if appropriate.
  7. Choosing Preview Payroll
  8. Select the Edit icon next to the check’s net pay to edit or preview that individual check, and then click OK when finished.
  9. Choose Submit payroll when you are prepared.
  10. You’re ready to go! Then click Finish payroll to print up your paychecks.

The basic setup for Run Payroll in Time for Direct Deposit in QuickBooks is as follows:

  1. Select Payroll settings from the Settings menu.
  2. Decide on Direct Deposit under Payroll in QuickBooks.
  3. Review the requirements for setting up direct deposit, then choose Yes! Let’s get going.
  4. For the Employer Bank Account and the Principal Officer of the Account, complete the essential details.
  5. Choose Continue.
  6. An email asking you to confirm your information will be sent to you. You’ll get another email verifying your pre-authorized debits after the data is confirmed.

Consider a test direct deposit transaction

After completing the initial setup, you must verify a test direct deposit transaction. To verify follow the steps below- 

  1. Select Payroll settings from the Settings menu.
  2. Decide on Direct Deposit under Payroll.
  3. Select Test Transaction Verification. (Note: Until the test money has been deducted, this option will not be accessible.)
  4. Fill in both with the test transaction amount.
  5. Choose “Ok.”
  6. You can set up employees if the verification process has been successful.

Set up direct deposit for each employee

Once the test transaction for your direct deposit has been confirmed, you are prepared to set up each employee:-)

  1. Verify that the employee has completed the Direct Deposit Authorization Form completely.
  2. This is what your direct deposit settings screen will look like after you’ve finished the first setup. Next to the desired employee, click Set Up.
  3. When paying Employees what method do you use? Pick Direct Deposit from the dropdown menu.
  4. Use the data from the approval form for the employee to fill up the fields.
  5. Choose “Ok.”
  6. You can now use direct deposit to pay your employees so the setup process is complete.


What if the direct deposit option on my account is still inactive?

One of the following circumstances could be to blame for this:)

1. Your bank account information was incorrect.
2. The test transaction was unable to be started because your bank account was empty.
3. Your test transaction amount was typed incorrectly.

How is Quickbooks payroll’s direct deposit feature?

You may prepare and distribute direct deposit paychecks to your employees using QuickBooks Desktop Payroll. To ensure that your direct deposits are completed immediately, your payroll must be prepared and received to Intuit before the date of your paycheck.

How can I modify QuickBooks’ deposit speed?

1. Select Account and Settings under Settings.
2. Choosing the Payments tab. 
3. Study the section about deposit speeds.

Can you change the date of Direct Deposit in QuickBooks?

Steps to be followed for modifying Direct Deposit in Quickbooks are- 

1. Select Employees from the top menu bar of QuickBooks Desktop, then click Edit/Void Paychecks. 
2. The date of the paychecks should now be the range of dates. 
3. Click the paycheck twice. Delete the “Direct Deposit” line in the note.

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