What are Direct Deposits Posts in QuickBooks, when they are Posted?
Paying employees is one of the important tasks for any company and it also becomes difficult to handle in absence of right software platform nowadays.QuickBooks keeps enhancing its payroll capabilities by introducing some new functions and enhancing user experience. Reading this blog, we are going to discuss direct deposits, Process to set-up and Direct Deposit Post in QuickBooks.
Direct Deposits-A quick introduction
Have you ever faced difficulty in making payment to all workers? Yes, it could be a little bit of a difficult task when you take work from different kind of employees. For example, Salaried employees or contractors, both are paid differently and calculation of financial amount, taxes due dates etc., need to be managed separately. Direct deposit is a payroll feature which helps small businesses to manage their payroll functions efficiently either monthly, bi-weekly or weekly. Pay frequency set by you in direct deposit makes confirmation that once payroll is submitted by you, workers can be able to receive direct deposit. However, the time taken in the processing of direct deposit depends on multiple factors.
The process to Setup, edit & remove direct deposit for employees
- Fist of all in QB desktop, choose employees center for opening employee list
- Double click employee’s name, press payroll info tab and click direct deposit button
- Now choose, “use direct deposit” feature
- After that, select number of accounts:
- Use first or second account
- Enter the financial information of an employee
- If the second account is selected by you, then submit percentage or amount of optional amount field & then click,
Let’s find the answer to the question, “ When when to do Direct Deposits Posts in QuickBooks?
|2 Banking Days||Before 5 pm
Payroll data with same check date can be transmitted
Advance cancellation of canceled checks can be done in 2 days before in advance.
At 5 PM Pacific time
All received data ( 2 banking days advance) is electronically sent to ACH (Automated clearing house) for processing.
|1 Banking Days||Intuit deducts money from the bank account of the employer. The deduction can be done within the day anytime.|
|0 Banking Days||DD (direct deposit) funds are available to receive banks as of 5 pm|
What should be done ins case of backdated payrolls?
In case backdated payroll is transmitted by you, then direct deposits will be posted two after transmission of payroll. For making confirmation, whether payroll transmission is received by Intuit, follow below mentioned steps:
Procedure 1: Check for items received by Intuit in the window, “send or receive payroll data”
Select send payroll date from employees section and look for confirmation of payroll data in Items received area. Clicking option, “view” you can see confirmation details. Look at the image:
Procedure 2: Wait for confirmation mail of direct deposit
It is sent to company’s payroll admin, just after transmission of payroll to intuit
Procedure 3: View payroll status in Account maintenance page of QuickBooks desktop
- Click QB Desktop-> “employee menu->
- Then, “my payroll service”->account preferences
- Log in your Intuit Account.
- Click view link, aside the payroll history in direct deposit segment, enter direct deposit pin & click continue
By clicking option, ”print”, you can print & close page by clicking logout.
What if an employee could not receive the direct deposits in QuickBooks Desktop Payroll?
If an employee could not receive direct deposit on time, following below discussed steps you can make your employees get paid correctly:
- Check payroll status sent by you & verify whether an employee was included in a payroll
- Verify DD( direct deposit) details of employee
- In case of incorrect account information, funds can be recovered accordingly as per the scenario
- Generate check for an employee, get connected to Intuit for entering deposit to offsetting rejected payroll.
- Even after receiving rejection notice of payroll from Intuit, if direct deposits are still not seen, then you must enter deposit manually.
Hope, you knew about direct deposit post in QuickBooks. For any query or relevant suggestion on this, you are free to get instant solution just making a call at toll-free QuickBooks Online Support Phone Number.