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theresa5465
June 15, 2022
Question

Payroll Direct Deposit & Required CPA-005 File

  • June 15, 2022
  • 1 reply
  • 0 views

This is regarding the ability to successfully carry out direct deposit for payroll in Canada.

What I need, according to my bank, is a generated CPA-005 form, which other competing accounting softwares can produce. I've rummaged around and it seems there is no functionality within Quickbooks to allow for this without the use of a 3rd party. If I'm wrong, please educate me. If I'm right, my Question to Quickbooks is: When are you intending to make this file generation a possibility?

 

I'm sure the suggestion to use Telpay or Treasure Software and whatnot will come up. If you want to try and convince me it is the way to go and what values they carry, go ahead. But my concerns simply are as follows:

1. We pay a decent amount to Quickbooks and to our bank, requiring to pay for yet another service to step in where the two existing parties can't seem to shake hands makes us wonder if there is a problem with our existing services.

2. Our goal is to simplify things. We want to be able to rely on a single source to do our work, not make multiple hops.

 

Please, if anyone has been experiencing this frustration, please share your solutions.

1 reply

J
JamesM4
June 15, 2022

Hi there, 

 

Welcome back to the Community. I'll be happy to share more info and help steer you in the right direction. QuickBooks is a versatile program that's designed to help you streamline your work. 

 

I can see the benefit of having the function you've described above and I encourage you to send feedback about this to our engineers. You can send feedback by clicking on the Gear icon and looking for Feedback. New product ideas and improvements are based on the feedback we get from users like you.

 

Let me know if you have other questions by leaving a comment below. I'll be one message away. 

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