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J
Janak
October 22, 2021
Solved

Can you have two bank accounts for direct deposit of payroll for two business doing business under one EIN

  • October 22, 2021
  • 2 replies
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I have one corporation has two different businesses under one EIN. Is it possible to use two different bank accounts to do the direct deposit for payroll ? Both payroll are run under one EIN.

Best answer by RCV

Let me provide some details about setting up direct deposit in QuickBooks, Janak.

 

It's doable to use two bank accounts for payroll if you don't use direct deposit. You'll just have to select an account when creating a paycheck. However, the option to use two different bank accounts when using direct deposit under one EIN is unavailable. To learn more about this one, check out the Set up your company payroll for direct deposit article. 

 

To send payroll to Intuit, just follow the steps below:

  1. Click Employees on the top menu.
  2. Choose Send Payroll Data.
  3. In the Send/Receive Payroll Data window, review the following information in the Items to Send area.
  4. Tap Send All. Enter your Payroll Service PIN then press OK.
  5. When the transmission is complete, you will return to the Send/Receive Data window. Under Items Received, hit View to view important payroll messages or Confirmation Reports. While viewing the item, select Print to print the report or message.
  6. Tap Close to close the Send/Receive Data window.

 

For the steps and details, check out the Send payroll and direct deposit paychecks in QuickBooks Desktop Payroll article. A confirmation of payroll receipt is available to view as a report in the Items Received window.

 

Visit our Payroll page for more insights about managing your payroll transactions on the software. 

 

I'm just one post away if you need a hand with running payroll reports or any QuickBooks-related. I'll be here to ensure your success. You have a good one. 

2 replies

R
RCVAnswer
October 23, 2021

Let me provide some details about setting up direct deposit in QuickBooks, Janak.

 

It's doable to use two bank accounts for payroll if you don't use direct deposit. You'll just have to select an account when creating a paycheck. However, the option to use two different bank accounts when using direct deposit under one EIN is unavailable. To learn more about this one, check out the Set up your company payroll for direct deposit article. 

 

To send payroll to Intuit, just follow the steps below:

  1. Click Employees on the top menu.
  2. Choose Send Payroll Data.
  3. In the Send/Receive Payroll Data window, review the following information in the Items to Send area.
  4. Tap Send All. Enter your Payroll Service PIN then press OK.
  5. When the transmission is complete, you will return to the Send/Receive Data window. Under Items Received, hit View to view important payroll messages or Confirmation Reports. While viewing the item, select Print to print the report or message.
  6. Tap Close to close the Send/Receive Data window.

 

For the steps and details, check out the Send payroll and direct deposit paychecks in QuickBooks Desktop Payroll article. A confirmation of payroll receipt is available to view as a report in the Items Received window.

 

Visit our Payroll page for more insights about managing your payroll transactions on the software. 

 

I'm just one post away if you need a hand with running payroll reports or any QuickBooks-related. I'll be here to ensure your success. You have a good one. 

C
Capstone1818
January 24, 2022

QB really should allow the option to pay out of 2 separate accounts for payroll. We pay our 1099 employees out of a separate account than the W2 employees and it is inconvenient not to have the option to keep those separated as both types of employees want direct deposit as an option.

    T
    TirzahC
    January 25, 2022

    Thank you for raising this concern, Capstone1818.

     

    A suggestion like this helps us determine what enhancements and improvements are needed to make our product more effective and convenient to use. Enhancements to QuickBooks functionalities are largely the results of feedback provided by users, such as yourself.

     

    I understand that there are some features from different programs that aren't in QuickBooks. Please know that we're taking notes of your feedback and suggestion to consider adding it in the future.

     

    For now, you can directly send feedback to our product engineers by going to the Gear icon, then selecting Feedback. This way, they can review your suggestion and consider it based on the number of requests and its impact on the product.

     

    I'm adding this article to guide you in setting up direct deposit for employees: Set up direct deposit for employees.

     

    If you have additional questions about direct deposit, I'm always around to help you. You can click the Reply button below.

    J
    jamespaul
    April 18, 2022

    Hello, Snoozie1.

     

    I appreciate your time in sharing your thoughts about your current method in handling two payroll bank accounts for your company. 

     

    As pointed out by my colleague, we can only use a single bank account for direct deposit payroll. Although, having the ability to handle two bank accounts in a single company file would definitely save some time, and ensure your data is tracked and kept in a single source. 

     

    If you haven't done it yet, we'll want to send feedback directly to our developers regarding the ability to use two bank accounts for direct deposit.

     

    Click on the Help menu, hover on Send Feedback Online, then select Product Suggestions.

     

    Our developers will read through your inputs and might bring them up for future enhancements. 

     

    In the meantime, we can continue using two separate companies in the meantime to handle your payroll-related tasks. If a manual payroll is an option, we could also follow the workaround shared by RCV.

     

    I see that you've mentioned something about those T4 and ROE forms. We also have a dedicated Community forum for Canadian users.

     

    Click this link if you want to ask questions regarding the Canadian version of QuickBooks Desktop: Canadian Community link. 

     

    If you need some information about the current tax table, you can check this article: QuickBooks Desktop Tax Table Information.

     

    You're still welcome to ask here if you have concerns about managing your payroll. Need a guide or two in handling transactions? Let me know the details and I'll help you out. 

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