How Can I Setup Direct Deposit in QuickBooks Desktop?
When it comes to payroll, QuickBooks Intuit has actually simplified the process with a step-by-step payroll setup tool that takes you through the whole process. Let’s go through this setup Direct Deposit in QuickBooks Desktop process together so you can have your payroll up and running in no time. If you’re still feeling unsure before you get started, you can always practice using a sample company file like I’m using for this guide.
Steps to Setup Direct Deposit in QuickBooks Desktop
Below mentioned are the various steps to setup direct deposit in quickbooks desktop.
Step 1: Open QuickBooks Payroll Setup
Once you have gathered all of your documentation, it’s time to get started with setting up your payroll. This can be done by selecting the Employees at the top of your screen, then selecting the Payroll Center from the dropdown menu.
Step 2: Set Up Compensation
Once you have opened the Payroll Setup tool, the first step is to enter the information about your company’s benefits and compensation.
Step 3: Set Up Employee Benefits
You will add and edit employee benefits offered by your company. You’ll also add pay additions. Now, you have all of your compensation, benefits, additions, and deductions added, it’s time to add the numbers for each employee.
Step 4: Set Up Employees
You have to remember all W-4s and pay rates from earlier.
Step 5: Set Up Payroll Taxes
Paying taxes is a load that we can’t avoid.
Step 6: Enter Year-To-Date Payrolls
If you are paying your employees for the first time, you can bounce this section. However, if you have employees that have been paid in the current year, it’s necessary to input year-to-date payrolls in order to ensure that tax payments and paychecks are accurate.
Tackle Your Issues Easily
Running payroll for the first time can be a little threatening. But with QuickBooks, it’s all very straightforward and simple, even if you are brand new to payroll and accounting. Just make sure to take your time, follow the steps to setup Direct Deposit in QuickBooks Desktop, and utilize the help and assistance resources available to you within the software.