If you’re new to QuickBooks Online, it will prompt you to set up direct deposit when you’re in the process of setting up payroll. Once you have these items, you can set up direct deposit. The names of your employees’ banks or financial institutions.The name of your bank or financial institution.Here’s what you need to set up direct deposit: If you have previously run payroll through QuickBooks Online, setting up direct deposit requires just a few additional steps. It decreases the risk of fraud and lost or stolen checks.īefore setting up and running QuickBooks payroll direct deposit.There is no lag in check cashing, meaning bank reconciliation is simplified.Your employees receive payment even if they are out of the area.Direct deposit is a paperless payroll process that saves the time and expense of printing checks.You have more control over payroll processing and expenses.It’s beneficial for businesses because there is no lag in time for bank reconciliation purposes, and it’s great for employees because they receive payment immediately without having to go to a bank to deposit a check.ĭirect deposit benefits businesses in several ways: Business owners and employees alike enjoy the benefits of direct deposit. Once you have set up payroll in QuickBooks Online, setting up payroll direct deposit is easy. This article is for business owners and accountants looking to process payroll through QuickBooks Online.
Using QuickBooks payroll direct deposit will save you time and money.The vast majority of employees prefer and receive payroll via direct deposit.Setting up QuickBooks payroll direct deposit makes processing payroll efficient.
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