Overview

Follow the steps below to change the bank account from which QuickBooks Assisted Payroll deducts paychecks, direct deposits (including direct deposit transactions for vendors), taxes, and fees.

Details

To change the bank account for your payroll service deductions:

1.Gather the information you'll need to enter your new account, including the name and routing number of the financial institution, the account number, and the account type (Checking or Savings).

*Intuit does not recommend using a Savings Account as the funded payroll account.  If you choose to use a Savings Account, please note your bank may place a limit on the amount of transactions that can occur in a given time period.  Intuit will not be held liable for any fines or rejects that transpire due to limitations that may be placed on the savings account.*

QuickBooks Assisted Payroll Service:

  • Can withdraw funds from only one bank account.
  • Cannot withdraw from a foreign bank account, credit card, or a line of credit.
  • Cannot Direct Deposit funds into an employee foreign bank account.

2. Set up the new bank account in the QuickBooks Chart of Accounts (you must log in as Admin and be in Single-user mode), if it is not yet there.

3. There are two ways to change your bank account, choose a method below:

Change the Assisted Bank Account Change form

  1. Complete the QuickBooks Assisted Bank Account Change form .
    Note: This form will open in Adobe Reader.
  2. Click to create a case and upload your completed and signed packet to Intuit. Follow the on-screen instructions. All Bank Account change requests that are received, filled out, completed correctly and with the Primary Principal or Payroll Administrator (on file) signature are worked on within 4 business hours. The bank account change cutoff time is 3PM PT. Any bank account change request for same day or 2 day sent after 3 PM cutoff will be processed next day.

Important:

  • Fill in the QuickBooks Bank Register name on the form. If this information is not updated the liability check will post to the old register.
  • Ensure the principal or payroll administrator signs the form.
  • When you create the first payroll to be deducted from the new account, be sure to select the new account in QuickBooks in the Select Employees to Pay window.
  • If you want to change the bank account for a payroll you've already sent, you must request the change to Assisted Payroll two days before your payroll is processed. Payroll processing begins two days before the paycheck date, at 5:00 P.M. Pacific Time.

Change the Assisted Bank Account from within QuickBooks:

  1. Click Edit > Preferences.
  2. On the left navigation bar, select Checking.
  3. Click the Company Preferences tab.
  4. In the Select Default Accounts to Use section, select Open the Create Paychecks.
  5. Click the drop-down arrow and choose the correct bank account. This will set the correct bank account as the default for paychecks in the future.

Change the bank account your Assisted Payroll liability check is recorded in:

  1. QuickBooks: Choose Employees > Send Payroll Data.
  2. Click the Preferences button to open the Payroll Service Accounts window and select the appropriate choice using the drop-down arrow.
  3. Click OK.
  4. Click Send and enter the PIN.

Note: If you do not set up the new bank account you created in your Chart of Accounts as your default payroll bank account, your QuickBooks liability check will post to the old bank account register. You will have to edit each liability check to move it from the old bank register to the new one so you can reconcile these transactions with your bank statement.