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October 8, 2022
Question

How do I change tax payment bank account

  • October 8, 2022
  • 1 reply
  • 0 views
I need to change the account where my tax payments are drawn from.

1 reply

October 8, 2022

Hello, zachtanderson.

 

I'll gladly share some information about changing your bank account where the tax payments are drawn from. 

 

Paying your taxes through the Self-Employed program is done on the EFTPS website. To change the bank account where the tax payments are drawn from, we'll want to change the settings in your EFTPS account. 

 

From there, we'll have the option to change the bank account for the tax payments. Check with EFTPS support if you need more help with this. 

 

In addition if you connected the new bank account for the Online Banking feature, we'll just have to categorize the tax payment as soon as it downloads. Otherwise, we'll want to manually record it in Self-Employed:

 

  1. Go to the Transactions menu.
  2. Click Add transaction.
  3. Enter the date of the tax payment. 
  4. In the description field, enter a description such as "Quarterly federal tax payment." 
  5. Enter the amount.
  6. Click Select a category, then search for Estimated Taxes.
  7. Hit Save.

 

Need more help in managing your taxes within Self-Employed? Check out this article for more details: Pay federal estimated quarterly taxes in QuickBooks Self-Employed

 

If you'd like to check on your financials or export your transactions for review in the future, I'll add this article just in case: Export transactions and get reports in QuickBooks Self-Employed

 

Drop by here again if you have questions about your taxes in Self-Employed. Need help with your transactions, reports or tax information? Let me know and I'll help you out again.