Do you know, ‘How to change your direct deposit bank account in QuickBooks?’ If not, there is a chance for you, where you will be able to get the answer for the above query.
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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with Direct Deposit, you’ve got the option to modify your bank account from which your direct deposit payroll budget is withdrawn.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
You can change your direct deposit bank account in QuickBooks easily, you just need to have patience, and to follow the procedures carefully.
Things Need to Before Changing Direct Deposit Bank Account
There are two things you need before changing the direct deposit bank account in QuickBooks, and they are the need requirements, and how does it works, have a look;
Requirements Needed to Change Direct Deposit bank Account
You just need two things to perform this activity, but these two things are necessary for this. So make sure that the below things are available for now:
- Your present Intuit Account.
- The Direct Deposit PIN use to send payroll.
How Does 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 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.
Add New Bank Account in QuickBooks Desktop
Now let’s start the procedure by adding a new bank account in QuickBooks Desktop:
- Login to QuickBooks Desktop, and go to the ‘Chart of Accounts‘ option.
- Go for the ‘Accounts’ option, and click on the ‘New’ option
- Now go for the ‘bank’ option, and then on the ‘Select’ option
- In the next step, you have to add all the necessary details of the bank that you want to add.
- Lastly, click on the ‘Save & Close’ option to save all the changes.
Update the Bank Information on payroll
We will update the bank information in the QuickBooks payroll Account Management Portal because QuickBooks Online payroll update the information in the QuickBooks payroll Account management Portal for the reason of incorrect bank account details issue.
- From the QuickBooks Payroll Account Management Portal, select the ‘Employees’ tab, and go for the ‘My Payroll Service’ option.
- In the next step, click on the ‘Accounts/Billing information’ option from the ‘My Payroll Service’ list.
- Login to Intuit account with your user ID, and password, or with your login credential.
- After that, check for the payroll info segment, and click on the ‘Edit’ option from the ‘Direct Deposit bank account.
- Give the payroll PIN, and the new bank account information.
- And wait for the confirmation, click the ‘Close’ option.
Verify the New Direct Deposit Bank Account
Follow the procedure to verify the new direct deposit bank account:
- Visit to the ‘Employee’ tab, from there choose the ‘My Payroll Service’ option.
- And in the next step, click the ‘Account/Billing’ information.
- Again get into the Intuit account, go for the payroll info section, and verify the direct deposit bank account.
- Now confirm your payroll PIN, and click the ‘Submit’ option to complete the task.
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Install 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 on the QuickBooks 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 to your new bank. It is able to take 2 banking days for the test debits to post on your bank declaration. You’ll require to finish the steps in the section below to set off your new bank account before sending your Direct Deposit payroll. Select the bank account where QuickBooks 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 the New Direct Deposit Bank Account:
To activate the new direct deposit bank account, go through the below procedure:
- 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.
We hope, all the above procedures will be easy to perform, and you are cleared that, ‘How to Change your Direct Deposit Bank Account in QuickBooks?’. Maybe in some cases, you are stuck with a problem or error, in that case, you can get our ProAdvisor support for an effective and instant solution.