Important AlertsChange bank account for Assisted Payroll service deductions
Article ID: 1000055
PrintOverview
This article explains how to change the bank account from which QuickBooks Assisted Payroll deducts paychecks, direct deposits, taxes, and fees.
Assumptions
You must have QuickBooks installed on a computer with an Internet connection.
Expected Outcome
You will change the bank account from which Assisted Payroll makes deductions.
Details
The steps to change your bank account with Assisted Payroll will vary based on the Payroll Service Key located in your QuickBooks file. To determine what Service Key you have in your QuickBooks, see View status of payroll subscription and subscription information.
When accessing Account Maintenance pages in QuickBooks, you will be asked to sign in to your Intuit Customer Account. If you have not established log in credentials or is having problem signing on, click here for more information.
To change the bank account for your payroll service deductions:
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.
Set up the new bank account in the QuickBooks Chart of Accounts, if it is not yet there.
QuickBooks Assisted Payroll Service can withdraw funds from only one bank account. If your payroll tax funds are currently in a separate account from your paycheck funds, you will need to combine those bank accounts. After you combine the accounts at your financial institution, you need to merge the accounts in QuickBooks. You have to use an actual bank account for payroll debits, not a credit card, line of credit or other similar account.
Access the Payroll Service Account Information pages to get the QuickBooks Assisted Bank Account Change Form:
- In QuickBooks Pro and Premier:
- Choose Employees > My Payroll Service > Billing/Bank Information
- In QuickBooks Simple Start:
- On the top toolbar, click Payroll to enter the Payroll Center.
- Choose My Payroll Service > Account/Billing Information.
Follow the steps to complete the QuickBooks Assisted Bank Account Change Form or to change your bank account.
If you have a 4000 Service Key:
- Under Bank Account Information, click Edit next to Bank Account.
- Locate the QuickBooks Assisted Bank Account Change Form, complete and fax to Intuit at 858.525.7920.
- In the Update Payroll Account Information window, next to Payroll Admin Email, click Edit.
- Click Continue.
- In Enter PIN, enter the PIN used to send payroll to Intuit. Click Continue.
- In the Update Company Information window, click Continue.
- In the Address Information window, click Continue.
- In the Review Your Information window, click Update.
- In Update Bank Account Information - Assisted window, update your bank account information with your new banking information. Click Continue.
- Click Done.
Return to the Payroll Service Account Information (Account Maintenance) pages to confirm the changes have been made.
If you cannot access your account maintenance pages:
Complete the QuickBooks Assisted Bank Account Change Form.
Note: This form will open in Adobe Reader. The length of time it takes to download depends on your Internet connection speed.
Be sure to fill in the QuickBooks Bank Register name on the QuickBooks Assisted Bank Account Change form. This information is critical; if this is not updated the liability check will post to the old register.Fax the completed form to Intuit at 858.525.7920. The form will be distributed to a fax mailbox, and the bank account will be changed once the principal signature has been verified (within 2 business days).
To change Your Default Bank Account for Payroll Checks
- 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.
Note: This feature is not available in QuickBooks Simple Start.
To 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.
Important Points to Remember
- 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.
- Verify that you completed every part of the Bank Account Change Form. If you didn't, this could cause problems with the new register and posting of your QuickBooks payroll service and paychecks. Also, you must fill out the Chart of Accounts name correctly. Otherwise, QuickBooks payroll service and paychecks will still post to the OLD account.
- After processing begins, you cannot change the bank account for a payroll. If you did not send your payroll at least two banking days in advance, processing begins at 5:00 p.m. Pacific time on the day you send it.
- If you send a payroll and then submit a bank account change afterwards,be aware thatif the bank account change is completed before the payrollis processed,the payroll will come out of the new bank account.
- Assisted Payroll cannot pull taxes from a foreign account, nor can we Direct Deposit funds into an employees foreign bank account.
Related Articles
You can update most of your information from within the QuickBooks Account Maintenance Pages including:
Assisted Payroll:
Credit Card InformationPayroll Administrator/Contact Email Address Change
Basic, Standard & Enhanced Payroll:
Bank AccountCredit Card Information
Payroll Administrator/Contact Email Address Change
Add an EIN to Existing Basic, Standard or Enhanced Payroll Subscription
