QuickBooks has been playing an important role in helping a firm accomplish many things at the same time. Your e filing, payroll set up and many more jobs can be done in the wink of an eye. Of all the jobs, Direct Deposit is another feature that can be utilized in QuickBooks.
Direct Deposit is the process by the virtue of which your checks can be electronically deposited to your savings or checking account. The amount becomes available to you on the day of salary.
There are three simple steps to get the process done in QB. They are as mentioned below-
- Select Employees’ details like the working hours, leave details and any other detail you think determines the person’s salary
- Schedule the payment two days or forty five days in advance by selecting from which account the money needs to be debited
- Finally you run Payroll to make sure the checks of pay get deposited into the account of the employees directly
We should understand that every step to be followed needs to have s set of requirement which need to be fulfilled. The same goes for Direct Deposit with QB Payroll. There are a set of requisites you need to check before you sign up and activate your Payroll in QB for direct deposit.
The requirements are as listed:
- Any supported updated version of QuickBooks
- Subscription of QB Desktop Payroll which is active
- EIN which is the Federal Employer Identification Number
- High speed internet access
- A bank account that enables you to process Automated Clearing House or ACH transactions
After you have met the entire above mention criterion, you are deemed suitable to sign up for Direct Deposit with QB Payroll.
How to Sign up for Direct Deposit?
It is not a very complicated procedure. You need to be calm and patient while signing up so that no error pops up. This is a universal step for any important sign up.
You can follow the steps below to sign up:
- Click on Employees menu, then select My Payroll Services and select Active Direct Deposit
- Complete the form filling process and before submitted make sure you review it.
- When Zip code is asked, make sure to enter only the five digits with no extension
- Now click on Submit
- An agreement link will pop up at the bottom of the screen. Read the agreement carefully
- Now select I have read and agree to the terms of the service agreement checkbox
- Now time for sign up, click on Sign Up
- Don’t forget to get the Direct Deposit getting Started Guide which is very important
After the process of sign up is over, print the confirmation page when you print the guide mentioned above too. The guide is more about the necessary forms and materials which need to be completed before the paying to the employees start through Direct Deposit with QB Payroll.
It also consists of the instructions to be followed in order to complete the verification process of the Bank. Apart from this, it contains the instructions to process the Direct Deposit. To proceed with the Direct Deposit for the employees, you will have an authorization too in that guide.
The guide is quite useful as it also contains the list of Federal Reserve Holidays which can be helpful to plan your Payroll process.
If you couldn’t download the guide of Direct Deposit with the usual process, you have another option. You can clock on Help in QuickBooks menu and select Direct Deposit getting Started Guide and download it. You should make sure you have PDF file opener in your system as the guide will open in PDF format only.
That was easy, wasn’t it? Let’s take a look on certain conditions which you need to keep in mind before you process the Direct Deposit with QB Payroll after having fulfilled the criterion.
- To transmit the Payroll Data in order to intuit before 1700 hours Pacific Time at least two banking days in advance before the actual check date. You can also transmit 45 days in advance
- To have an Internet connection. QuickBooks however provides a secure connection in order to avoid any unauthorized access
- Your Direct Deposit can be also transferred to an Intuit paycard
- If the check date falls on a non-working day, then the deposit will take place on the next business day
- DD Payroll is sent to ACH for clearance
- Intuit does the process of debit from your bank account a business day before the check date. So make sure funds are available
- The Paycheck will be deposited on the employees account on the day of salary
The whole process is length but a simple one. It is considered as one of the best process of getting your employees paid with not much paper work to be done. It is a one-time process and the process will recur every month unless you put a stop to it. QuickBooks Direct Deposit has brought a smile on many employers’ face. Do you want to be one of them?
If you get stuck anywhere in the process, feel free to get in touch with Payroll.AccountingErrors QuickBooks Technical Support Team, Which is available 24/7 on 📞+1-844-827-3817.