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January 25, 2024
Question

Separate bank account for taxes and payroll

  • January 25, 2024
  • 1 reply
  • 0 views

I've just migrated from QB Desktop to QB Online and use payroll in both.
I noticed this evening that my 943 payments to the IRS are being deducted from my payroll bank account instead of my tax bank account.  In the payroll settings I only see an option to choose one account.  Is there a way to use one bank account for payroll and another for taxes?

1 reply

JenoP
January 25, 2024

Thanks for posting your question here, tv0571. I'm happy to provide some clarity around the payroll bank account settings in QBO.

 

At this time, there is no option to use separate bank accounts for paying employees vs tax payments in QuickBooks Online Payroll. That's why you can only select one account in the Payroll Settings window.

 

I understand it would be beneficial for users to be able to assign distinct accounts for different payroll functions. You can submit this as a feature request to our product development team for consideration.

 

Here are instructions on how to send product feedback:

 

  1. Go to the Gear icon and select Feedback.
  2. Type in your suggestion and click Next.

 

Although, you can always update the company settings to change the payroll bank account if needed. Here are details on how to do that: Change Your Payroll Bank Account

 

Additionally, here are a couple of articles with guidance for getting started with QBO Payroll after transitioning from QuickBooks Desktop:

 

 

Please feel free to visit us again if any other questions come up when paying your employees, tv0571. I'd be glad to explain the functionality around payroll processes in QBO.  

 

tv0571Author
January 26, 2024

Thanks for the reply and explanation.

 

I wish Intuit would provide a detailed document describing the differences between Desktop and Online.  I was led to believe that Online had all the same functionality and I'm finding it doesn't.  This mistake nearly cost me some hefty service charges and rework with the IRS.

Candice C
January 26, 2024

Hey there, @tv0571.

 

Thanks for reaching back out. 

 

We have guides and articles listed below that can compare the two products for you and give you additional details: 

 

 

If you have any other questions, don't hesitate to ask. Have a wonderful day!