How to Set up Direct Deposit in QuickBooks?

by James Antonio

Don’t you just savour and enjoy that one day of every month – the Payday! However, variable ways of being paid like taking the checks to the bank or asking the teller for direct deposits might kill the vibe.

Set up Direct Deposit in QuickBooks

Now, on QuickBooks, employers, and employees get the benefit of the Direct Deposit option which helps you to have the access to your money with the help of electronic funds transfer medium that walks in straight into your respective bank account.

This article takes you on a detailed guiding journey that would help you to understand how to set up direct deposit in QuickBooks.

What is the Setting up of Direct Deposit in QuickBooks?

Before you straight away walk up to knowing how to set up direct deposit in QuickBooks, let’s just brush up a little on understanding what is a direct deposit.

Instead of taking your paycheck to the bank, the direct deposit would be transferring the respective amount in your bank account with the help of an electronic fund transfer. Using an electric network which is terms as an automated clearing house (ACH), direct deposits help in facilitating digital deposits between banks.

Because of a high dependency growing on digital mediums, almost more than a billion electronic payments are being recorded annually around the world.

Keep scrolling to understand the intrinsic value of setting up direct deposit in QuickBooks in the next section.

Why do you need to Set up Direct Deposit in QuickBooks?

Standing out to be one of the popular modern payment techniques, direct deposits come with a widely spread buffet of benefits. To start with, direct deposits in QuickBooks, you find a convenient way to welcome your tax refunds, unemployment pat, social security, and stimulus checks.

Seeing it from an employee perspective, direct deposit is an extremely helpful method to get your money in your bank account without facing the hassle of walking into a ban for the same. Due to a digitized process being in place, there is negligible or absolutely no paper/documentation required to set up direct deposits.

While, employers too, reap a lot of benefits from setting up direct deposits in QuickBooks. One of the primary benefits that can be highlighted in this discussion is that direct deposits help to avoid printing, writing, mailing, or reissuing paychecks to their employers, which incurs unnecessary costs.

It also saves a lot of time, with the added advantage of keeping things secured and unified under one platform.
Now that you are absorbing the perks of setting up direct deposit in QuickBooks, the following division would help you with the steps involved in it.

How to Set up Direct Deposit in QuickBooks?

This section will help you to understand how to set up direct deposits in QuickBooks via detailed steps.

Step 1: Verify Your Company Information

The first step for this involves entering the company information. Start with verifying the company’s information which includes the legal name of the business, industry to which it belongs, along with updating the owner’s data too.

Verify Your Company Information

Step 2: Enter Your Bank Information

The next step is all about entering the bank information. Choose the bank account from where you wish to pay your employees. Make sure to highlight a few other bank account information such as type of account, legal name, account, and routing numbers, and agree to the terms and conditions mentioned below.

Enter Your Bank Information

Step 3: Set the Security Limits

In the third step, set the security limits. Being an additional security measure, QuickBooks lets you input 3 security checks. From the drop-down below, choose the most fitting one for your business.

Step 4: Activate the Direct Deposit

Next, you would need to activate the direct deposit. For verifying the bank accounts, QuickBooks levies two small verification deductions. When you can see these deductions recorded on your bank statement, you can activate direct deposits in QuickBooks.

Step 5: Verify the Activated Direct Deposits in QuickBooks

Once you have activated direct deposits in QuickBooks, you need to verify it as well. To do so,

  • Visit Employee and click on My Payroll Service.
  • Hit Activate Direct Deposit.
  • Enter the two deduction amounts and choose Next.

Step 6: Enter the Employee’s Information for Direct Deposits

Enter the Employee's Information for Direct Deposits

Now you need to enter the employee’s information for direct deposits. To do so,

  • Visit Employee and tap Employee Center.
  • Choose the employee for which you are setting up the direct deposit.
  • Hit on Payroll Info and choose Direct Deposit.
  • Check the Use Direct Deposit for this employee box.
  • Enter the employee’s bank account type, bank name, account, and routing numbers.
  • Hit OK to finish. Also, make sure to choose OK even on the employee screen to confirm information has been saved correctly.

Step 7: Running Payroll to use Direct Deposits

Following this, you would be running payroll to use direct deposits. Post to you reaching to run payroll, tap on Send Payroll to Intuit.

Step 8: Received Direct Deposit Pin

You will have a direct deposit pin, that would be required to enter for verifying the transaction at the time of dispatching the payment amounts.

Step 9: Use Print Pay Stubs When Pay Your Employees

When the payment to your employees to clear via direct deposits, make sure to print pay stubs. To do so,

  • Visit File.
  • Click on Print Forms and tap Pay Stubs.

Hopefully, this article has helped you in understanding the detailed steps on how to set up direct deposits in QuickBooks.


Need Some one on one QuickBooks Assistance?


What to do if I see a Delay in Receiving the Direct Deposit?

Most often, delayed direct deposits are because of system glitches or modifications done recently. If you do not receive direct deposits as per the timeline committed, kindly contact your bank, payment issuer, or your employer.

What types of information are needed from my Employees to set Direct Deposits in QuickBooks?

Types of information that are needed from your respective employees to set Direct Deposits in QuickBooks are mentioned as below:

Bank account number.
Bank’s routing number.
Type of account-checking/savings account.
Bank name and address.

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

On-time Support

We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

img

Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

img

Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

img

Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

img

Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

Get Support

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

Dancing Number

Kindly Provide The Following Information To Download The Dancing Numbers.

X





    Top