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A
alabamarolltide
February 19, 2021
Question

How do I add a new Bank account for payroll and transfer the funds from my business checking to my newly formed business payroll checking account?

  • February 19, 2021
  • 2 replies
  • 0 views
I also need quickbooks to be able to check and see transactions in this account (it is the same bank as my current quickbooks main checking account)

2 replies

M
MirriamM
February 20, 2021

Hi there, @alabamarolltide.

 

Changing your payroll bank account is just a few clicks in QuickBooks Online (QBO).

 

Let me show you how:

  1. Click the Gear icon at the top.
  2. Look for the Bank Accounts section.
  3. Use the Pencil icon ✎then select Update.
  4. Choose Add new bank account.
  5. If you bank with one of the 8 banks listed, select the bank and enter your online banking user ID and password. Otherwise, search your bank name or select Enter bank info manually. Enter your routing and account number, then select Save.
  6. Click Submit.

Once done, we'll verify your new account with a test transaction within 2-3 business days. For more details about this, see Step 5 on this article: Change your payroll bank account.

 

As for transferring funds from your business checking to your newly formed payroll checking account, you can do this by doing a transfer online. You can also connect your bank account to online banking to have the transactions be automatically downloaded to your QBO account. For more details, see this resource: Connect bank and credit card accounts to QuickBooks Online.

 

If you have more questions about managing your payroll in QBO. Just reply in the comment section and I'll get back to you as quickly as I can. Have a great day.

A
alabamarolltideAuthor
February 23, 2021

Well, that didn't work. I don't have add banking account under the gear icon. I can to accounts nd add bank account but it doesn't show under banking nor does it ask for routing and account number.

C
Charies_M
February 23, 2021

Let me help provide clarifications to your concern, alabamarolltide.

 

The Banking page can be found on the Banking menu. From there you can add a new bank account for your payroll and transfer funds.

 

Here's how:

 

  1. Go to the Banking menu and choose Banking.
  2. Click Add Account.
  3. Search for your bank or use the correct URL when you log in to your bank's website.
  4. Enter your bank's username and password.
  5. Select the type of account.
  6. Choose how far back you want to download bank transactions.
  7. Click Connect.

All you need to know about connecting a bank account in QBO can be found in thes articles: 

 

 

For your next steps, here's an article that you might find helpful when matching and manage your downloaded transactions: Categorize and match online bank transactions in QuickBooks Online.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I've got your back. Have a good day.

K
KES3
April 26, 2022

How do you add an new payroll bank account to desktop Quickbooks?

M
MirriamM
April 26, 2022

Welcome to the thread, @KES3.

 

Let me share information about adding a new payroll bank account in QuickBooks Desktop (QBDT).

 

In changing the employer's payroll bank account, there are a few things you need to prepare and do. 

 

These are the following:

  1. Gather the employer's bank account information, the principal officer's address, and the payroll PIN.
  2. Set up your bank account in your chart of accounts.
  3. Check for pending tax payments and payroll transactions (direct deposits or paychecks).
  4. Update your bank account with QuickBooks Desktop Payroll service.
  5. Verify your bank account.
  6. Change your default bank account in your preferences.

 

For more detailed instructions for every step, here's an article: Change your payroll bank account. Then, go to the QuickBooks Desktop Payroll section. 

 

Should you want to check your direct deposit limit amounts, look at this resource for more insights: Get help if you're over a direct deposit limit.

 

If you have any other concerns about managing your payroll, let me know by commenting below. I'll be glad to work with you anytime. Have a good day!

T
Thanh39
June 29, 2024

When i go to change tge payroll acount it keeps stating that there are pending transactions and it says to try again. So for a month i have never been able to change it. I called QB and they said i need to wait until pending transactions are done but even QB couldn’t change for me. What exactly do i need to do in order to change it? Very frustrating.  Has any had this issue? 

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