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.
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
- Complete the QuickBooks Assisted Bank Account Change form .
Note: This form will open in Adobe Reader.
- 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.
- 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:
Note the following before choosing to change the Assisted Bank Account from within QuickBooks:
- You cannot change their bank account in QuickBooks if you have pending payroll transactions.
- You cannot process payrolls or direct deposit payments from your old or new accounts for 1 to 2 banking days.
- Intuit will make two small one-time withdrawals less than $1.00 from your new account. These two small debits will refund to your bank account in 7-10 business days.
- You must verify those withdrawals to activate the new account in QuickBooks. (See the steps below.)
- You must have your payroll PIN to process the change. If your PIN is less than 8 characters, you may need to change it.
To change the Assisted Bank Account from within QuickBooks:
- Choose Employees > My Payroll Service > Billing/Bank Information to access the Payroll Service Account Maintenance pages.
- Under Bank Account Information, click Edit next to Bank Account.
- The Bank Account Information Change window will open. When you change your bank account type, routing number or account number you cannot process payrolls or direct deposit payments against either your old or new accounts for 1 to 2 banking days. Intuit needs this time to make two small one-time withdrawals from your new account and for you to verify those withdrawals to activate the new account. If you need to process payrolls or direct deposits payments now, click Cancel and complete your processing against your old account. If you would like to continue to change your bank account click OK.
- NOTE: If the Paychecks Pending window opens the following message will appear: "We're unable to change your bank information because one or more paychecks haven't been processed yet. Paycheck processing normally finishes the day before the paycheck date. Please try again after all outstanding paychecks have been processed. Be sure to change your banking info 1-2 business days before sending your next payroll." You will be unable to complete your bank account change until the pending paychecks have processed. Click OK to close the message.
- Type your payroll PIN. Click Continue.
- Enter the updated information in the following fields:
- Bank Account Name
- Bank Account Type
- Bank Legal Name
- Routing Number
- Account Number
- Click Update.
- A confirmation message will appear stating your bank account information has been updated successfully. Click Close.
- In 1-2 business days check your bank account/statement to locate two small debits. Use the steps below to enter the debits into QuickBooks and verify your bank account.
4. Activate your bank account if you submitted your bank account change in QuickBooks. If you used the bank account change form, skip this step and proceed to step 5.
To activate your bank account in QuickBooks 1-2 days after you have submitted your bank account change:
- Click Employees > My Payroll Service > Billing/Bank Information to the Payroll Service Account Information pages.
- Under Bank Account Information click Verify. The Verify Bank screen will open.
- Enter the 2 small charges from your bank statement without decimals into Amount 1 and Amount 2 fields.
- Enter and confirm your payroll PIN.
- Click Submit.
- The Bank Account is Verified message will appear. Click Return to QuickBooks.
- Create and send your payroll as normal.
- Click Edit > Preferences.
- On the left navigation bar, select Checking.
- Click the Company Preferences tab.
- In the Select Default Accounts to Use section, select Open the Create Paychecks.
- 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:
- QuickBooks: Choose Employees > Send Payroll Data.
- Click the Preferences button to open the Payroll Service Accounts window and select the appropriate choice using the drop-down arrow.
- Click OK.
- 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.