The direct Deposit feature is used by QuickBooks Desktop to make payments in an efficient way. For using the feature it is required to update the bank details. The procedure to change the direct deposit bank account in QuickBooks requires bank information, payroll PIN and the address of the officer of principle. Follow the steps to successfully execute the process and in case you face any technical issues you must immediately get in touch with the professionals to decide the right course of action.
Easy steps to Change the Direct Deposit Bank Account in QuickBooks Efficiently
Struggling to Change the Direct Deposit Bank Account in QuickBooks? Follow these steps attentively and conclude the entire process quickly with almost zero hassle.
Step 1: Gather Details Related to Bank
To change the direct deposit bank account in QuickBooks ensure that you have the correct details for the bank account including the address of the officer of principle, and the accurate PIN used for payroll.
- Details of the bank account must include, Bank name, Account number, Routing number on the check
- It is recommended that you must not use the routing number from the deposit slips.
- It is important to have an official address of the principle
- Make sure that as a licensed money transactions sender, Intuit payments too need legal requirements and applicable laws.
- You must ensure that the correct Payroll PIN is required to send the payroll to Intuit.
Step 2: Create the Bank Account
Creating a bank account required scrolling through the chart of the account menu. The account is necessary for the appropriate registration of payroll transactions. Here are the steps that you need to follow for setting up the bank account in the QuickBooks Chart of Accounts.
- Initially go to the “Lists” menu.
- Now, in the next step search for the “Chart of Accounts” menu.
- Further, you need to click on the “Accounts” option.
- Now hit the “New” button and select the “Bank” option.
- Click the “Continue” button. And add bank details followed by saving the changes.
- At this point, you need to add the bank account details.
- At last hit on the ‘close’ option.
Now you have completed the account set-up process after this you must ensure that there are payrolls and tax payments are not pending.
Step 3: Verification of Pending Payroll and Tax Payments
In the next step to change the direct deposit bank account in QuickBooks, you require to ensure that no tax payment or payroll transaction is left to be paid further or marked as pending.
To check Pending Tax Payments
- Go to the “Employees” menu.
- Navigate to “Payroll Center”.
- Click on the “Pay Liabilities” tab.
- Now you need to go to the “E-payments” tab. All the pending tax transactions(if any), will appear in the click.
To Pending Payroll Transactions
- Click on the “Employees” menu.
- In the next step, “Payroll Center” option.
- From here select the “Payroll” tab to get access to pending payroll transactions.
It is a very crucial step that must be executed before moving further to ensure that the changes made in the account have been altered successfully. The next step is to ensure that the payroll funds are taken out from the correct bank account.
Step 4: Change the Bank Account with the QuickBooks Desktop Payroll
In the further steps, you must update the details in QuickBooks Payroll Management Portal. The changes can be made on the basis of the Desktop payment version. Here are the steps that can be used to change the direct deposit bank account in QuickBooks
For QuickBooks Desktop Payroll Standard, Basic, and Enhanced
- Go to the “Employee” menu.
- Select the “My Payroll Service” option.
- Further, you need to select the “Accounts Information”.
- Moving forward you need to sign in to “Intuit Account” using your credentials.
- Now, go to the “Payroll Info”’ section.
- Navigate to the “Direct Deposit Bank Account” and hit the “Edit” button. A pop up will appear asking to insert the “Payroll PIN’
- Add the PIN and hit the continue button
- Now, add your account details and wait till you receive a confirmation message.
- Finally hit on the “Close” button.
For Payroll Assisted QuickBooks Desktop
- Click on the “Employees” dropdown.
- Next, click on “My Payroll Service”.
- Select the “Billing/Bank Information” to access the “Payroll Service Account Maintenance” page.
- Within “Bank Account Information”, you need to click on the “Edit” button and enter “Payroll PIN”.
- Further hit the “Continue” button and add details of the new bank followed by the “Update” button.
- Click on the ‘Close: button once you receive the confirmation.
Step 5: Verify the Bank Account
After you have added the bank details, the bank will take approximately 2-3 days to the verification of new account with two trial transactions. The next step that is required is the verification of the account details.
For QuickBooks Desktop Standard, Basic, and Enhanced Payroll
- Run “QuickBooks Desktop” on your system and select the “Employees” menu.
- Click on the “My Payroll Service” option.
- Further, you need to navigate to the “Account Information” page.
- In the next step log in to your Intuit Account using your sign-in credentials.
- Now go to the “Payroll Info” option and from the “Direct Deposit Bank Account” page, go to the “Verify” button.
- In the next step, you need to add the “Payroll PIN” and confirm the details.
- After adding the details, hit the “Submit” button.
- Return to QuickBooks once you have received the confirmation message.
QuickBooks Desktop Assisted Payroll
- Begin with opening the “QuickBooks Assisted”.
- Now navigate to the “Employees” menu and click on the “My Payroll Service”.
- Now you must select the “Bank Information” page to access “Payroll Service Account Maintenance”.
- Further, reach the “Bank Account Information” page and click on “Verify”.
- After the click “Verify Bank” window will get displayed, then you need to add two test/trail transaction amounts. The transaction amounts should be from the bank statement without any decimals into the fields of “Amount 1” and “Amount 2”. (amount can be in any order)
- In the next step, you need to enter and confirm the “Payroll PIN”.
- After confirming hit the “Continue” button followed by “Submit” button.
- Once you have received the confirmation message, click on“Return to QuickBooks”
Important points to remember
- Once the bank details are updated the two test transactions will be displayed in the statement within 2-3 days.
- The amount must be less than $1.00, you must check the transaction using the Intuit Payroll services.
- The amount will be refunded within 3-5 business days.
Step 6: Change the Default Bank Account
Changing the bank account is yet another important step the user needs to take care of to change the direct deposit bank account in QuickBooks. It helps in ensuring that the transactions are being conducted from the right account. Here are the steps that must be carried out to change the preferences of the account.
- Go to the “Employees” menu and click on “Send Payroll Data”.
- Further, you must click go to the “Send/Receive Data” screen and click o the “Preferences” option.
- After clicking the “Account Preferences” section, you need to scroll the drop-down m menu to pick a bank account.
- Now hit the “OK” button and save changes.
- At last click on the “Close” button to exit the “Send/Receive Data” screen.
In the process to change the direct deposit bank account in QuickBooks, once you have changed your default bank account, you need to alter your default setting to Payroll Service liability check. Here are the steps for executing the step successfully:
- Go to the “Employees” menu, and look for “Send Payroll Data”.
- Move further to the “Preferences” option, once done, the “Payroll Service Accounts” screen will appear.
- Now use the “Pay Payroll Liabilities with” drop-down menu to select the new bank account.
- Then you need to press the “OK” button followed by the “Send” button.
- Now at the end, enter the Payroll PIN and wait for the confirmation.
Now that you have come across all the steps to change the direct deposit bank account in QuickBooks, it will be easier for you to execute the entire process successfully. If you face any hindrance or technical error get in touch with QBS solution. The highly proficient team is active 24×7 and hold expertise in handling all kind of issues.