Learn how to download “QuickBooks Payroll Direct Deposit Form” and how to write and set up the QuickBooks Direct Deposit Form. QuickBooks Payroll direct deposit enables employers to pay their employees electronically via bank transfers.
The money is directly transferred from the employer’s bank account to that of the employee. Automated Clearing House (ACH) is used by banks to coordinate payments among different financial institutions. In QuickBooks Payroll, you need to set up direct deposits for employees in order to pay them through your bank account and record the transaction automatically in the software.
- 1 Download QuickBooks Payroll Direct Deposit Form
- 2 Understanding QuickBooks Direct Deposit Authorization:
- 3 How to Write QuickBooks Direct Deposit Form:
- 4 How to Set up Direct Deposit for Employees
- 5 Get solutions to all of your accounting and bookkeeping problems with industry leading experts
Download QuickBooks Payroll Direct Deposit Form
You can go to the following link to download Employee direct deposit form for QuickBooks Payroll.
You can otherwise download the form directly from QuickBooks payroll. The data you’ve saved in the payroll software can be used to fill in the form directly. This is handy, especially if you want to enable direct deposit for multiple employees.
As a legal document, QB Payroll direct deposit form enables an employer to transfer money from his or her own bank account to that of an employee. Through this form, you can select which account the money will be transferred from as well as which account the money will be transferred to. The employee will have to submit a blank voided check, which can be attached directly to the form.
For more information, the employee can discuss the paperwork and procedure with the payroll department of the company.
How to Write QuickBooks Direct Deposit Form:
Before filling in the form, go through the instructions. First of all, you don’t need to send the document to Intuit. Instead, the employee must fill in the form and attach a voided check for each bank account. The voided checks will be used for verifying each of the account numbers and bank rounding numbers.
To fill in the form, you can follow the steps provided below:
Total Time: 30 minutes
Step 1: Start with Labeled Area Account 1
🔹 Select Checking or Savings in account type
🔹 Enter the Bank Routing Number (ABA number.) It is a nine-digit code depending on the location of the bank in which you opened your account.
🔹 Enter your Account Number
🔹 Enter the ‘Percentage or Dollar amount to be deposited to this account.’
🔹 If the payment amount is to be deposited in two separate accounts, then enter a percentage less than 100%.
🔹 If you don’t provide details for a second account, then a check form will be issued for the same.
Step 2: Repeat the Same Steps, if Want to Add Second Account
Repeat the same steps, if you want to add a second account. The percentage of the amount that did not go to the first account will go to the second account.
🔹 Select the Type of Account: Checking or Savings
🔹 Enter the Bank Routing Number (ABA Number)
🔹 Enter the second account number
Step 3: Attach a Voided Check for Each Account
🔹 Attach a voided check for each account.
🔹 This will be used for verifying both the account number and the Bank Routing Number (ABA number).
You must attach the voided checks after taking a printout of the entire form.
Step 4: Enter your Company Name in the Space
🔹 Enter your company name in the space provided.
🔹 This is an authorization that the company can electronically deposit money into your account and deduct any amount that may have been deposited through an error.
For authorization purposes, enter the rest of the information like:
🔹 Authorized Signature
🔹 Employee ID#
🔹 Print Name
Once you’ve filled out the form and taken a printout of the same, attach the voided checks for each account. Then, submit the complete form to your HR department. Thereafter, your employer will process the application and set up a direct deposit of wages to your account.
How to Set up Direct Deposit for Employees
In order to deposit wages directly into the account of your employees, you need to set up a direct deposit in QuickBooks Payroll. Once you’ve configured direct deposit, you can automate the payment process for each employee through this accounting software.
To set up Direct Deposit for employees in QuickBooks Payroll, you need to do the following:
- Gather bank information of employees through the QuickBooks Direct Deposit Authorization Form.
- Enter the bank information of employees in the online payroll account.
Here are the steps for gathering bank information of employees:
- Fill in and print an Intuit Direct Deposit Authorization Form
- Print the form through QuickBooks Online Payroll Enhanced through the following steps:
2.1. Open Taxes
2.2. Click on Payroll Tax
2.3. Click on Employee Setup
2.4. Select Bank Verification
2.5. Select View
2.6. Click on Print
Once you’ve gathered the bank information from your employees, you need to enter their bank details in QuickBooks Payroll. To do so, you can follow the steps provided below”
- In the Workers/ Payroll menu, select Employees
- Select the name of the employee
- Click on Edit Employee
- From ‘How do you want to pay this employee,’ select the method of payment. You have the following options:
- Direct Deposit
- Direct Deposit with Balance as a Check
- Direct Deposit to Two Accounts
- Enter the account number and routing number of the employee’s bank account.
- Click on Done.
The article may seem lengthy, but the process to enable direct deposit for your employees and know how to cancel direct deposit in QuickBooks is as easy as pie. All you need to do is follow the steps provided above, and you’ll be done in no time. However, if you face any issues while enabling this feature, you can reach out to our QuickBooks support.