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Direct deposit is an easy way to save time on payroll and it’s pretty simple to installation direct deposit. In this blog, we will discuss a way to change your direct deposit bank account. When you have QuickBooks desktop Payroll fundamental, enhanced or more suitable with Direct Deposit, you’ve got the option to modify your bank account from which your direct deposit payroll budget is withdrawn.
Change your Direct Deposit bank account in QuickBooks
Requirements to perform the processes below:
- Your present Intuit Account.
- The Direct Deposit PIN use to send payroll.
How it works:
You have to send a bank account form and a copy of the blank cheque to Xero to verify the new account. After that, they’ll confirm with having the correct shape.
- Direct Deposit service isn’t available until the bank change is authorized.
- It takes up to 2 weeks to be executed.
- Xero support informs the users who submitted the form after the entire process.
Installation and modernize the bank account in QuickBooks:
Set up the bank account in the QuickBooks Desktop Chart of Accounts, if you haven’t created it yet
- Firstly, select Lists and click the Chart of accounts.
- Then, click on the Accounts button and choose New.
- Now, choose a bank and click continue.
- Then enter your bank account information.
- Finally, click Save & Close to save your changes.
Update the bank account data in the QB Account maintenance page.
- In QuickBooks desktop, visit Employees. Choose My Payroll service & click on Accounts/Billing information.
- After that sign in the use of your Intuit Account login.
- In the Direct Deposit section, click on any of the bank account information.
- Click OK at the message that appears.
- Account in QuickBooks
- Then enter your payroll pin & click submit.
- Enter the new bank statement details & click on submit.
- Wait for the confirmation & click the continue.
Intuit will send check debits in your new bank. It is able to take into 2 banking days for the test debits to post on your bank declaration. You’ll require to finished the steps in the section below to set off your new bank account before sending your Direct Deposit payroll. Select the bank account where QB Desktop should post transactions lower back by using the Intuit service. It is important that the bank account(Chart of bills) where direct paychecks & expenses will post to is modernized when doing a bank account modify.
- Firstly, from Employees on the top menu, select send Payroll data.
- After that, on the send/receive data window, click alternatives.
- Then click on the Account options window, select the new bank account from the drop-down list.
- Click OK to save your changes, and then select close on the Send/Receive Data window.
In case you want to pay your employees but have not completed the bank account verification and activation steps, you will require issuing paper checks.
Activate your new Direct Deposit bank account:
- Enter those 2 test debits in the QuickBooks Account protection page. See the steps below :
- Visit employees, choose My Payroll service and then click Account/Billing information.
- After that register the use of your Intuit Account login.
- Select the verify link next to Direct Deposit bank account information.
- Now, you need to go enter the 2 test debit amounts to verify your new bank account.
- After that enter & confirm your payroll Pin.
- Then, click submit.
- Change the default bank account use when creating paychecks in QB Desktop.
- Change the bank account in which payroll fees will publish in QuickBooks desktop.
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