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M
mcpotempa
January 17, 2024
Question

Verifying bank account

  • January 17, 2024
  • 1 reply
  • 0 views

I've setup the direct deposit for paying myself payroll from Quickbooks Checking account to a personal outside bank account. Even though it says 'Direct Deposit' in Quickbooks it seems the payroll I just ran created a physical check (to be mailed I assume?) since the direct deposit payroll is not yet in the destination account. I believe I just need to verify the external bank account in Quickbooks however I cannot find where to do this anywhere. I do see that Quickbooks sent the external checking account a test amount to verify but I don't know where to find the place in Quickbooks to actually verify the destination bank (thinking this is the gap for why my direct deposit status actually still cut a physical check to be mailed). Help?

1 reply

M
MelroseV
January 17, 2024

Hello there, @mcpotempa.

Let me help you verify your bank account in QuickBooks Online. Before we continue, may I ask if a test transaction amount of less than $1 is posted to your bank statement? If so, we can move on to the next steps. If not, that's fine because it typically takes 2-3 banking days after setting up your bank account.

 

Here's how:

  1. Go to Payroll, then Overview.
  2. From your To Do List, click Let's Go on Check your bank account item.
  3. Select Verify Amount.
  4. Enter and confirm the transaction amount (no decimal point).
  5. Click Verify.

 

If there's no New payroll tasks option, here's another way to verify the test transaction:

  1. Go to the Gear icon, then Payroll settings.
  2. In Bank accounts, click Edit.
  3. Select Verify Amount, then enter and confirm the amount.

 

Once your bank account information is verified, you can pay your employees by direct deposit. Just ensure when you set up your employees you tick the direct deposit. You can check this article to double-check it: Set up direct deposit for employees.

 

You can also request a direct deposit limit increase if your payroll is higher than your limits, or if you need to pay out bonuses.

 

Keep me updated in the comments if you have further questions about verifying your bank account in QuickBooks Online. I'm just a reply away. Keep safe and have a good one.

 

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