You're unable to send employee contributions to their Roth IRA account. You can only send a direct deposit transaction to your employee's bank account.

You'll want to create a regular check and send it to your employees manually. Here's how:

Click the New or Plus sign (+) button.
Select Check.
Choose the employee, add the IRA account, then enter the amount.
Select the bank account.
Click Save and close.

I'll provide an article about Direct deposit to guide you: Set up direct deposit for employees.

Feel free to let us know if you have other payroll concerns. You can always drop by in the Community. Keep safe!

calvarytruckeeAuthor

Would it be possible to set ETrade up as a vendor & direct deposit to them as a contractor?

AlexV

Level 10

Let me share more details about direct deposit, calvarytruckee.

Yes, we can set up direct deposit for contractors in QuickBooks Online. However, we're unable to use this feature in paying employee's Roth IRA individual accounts.

If you haven't yet, you need to set up your company payroll for a direct deposit first. Then, please follow these steps:

Go to the Payroll menu and select Contractors.
Select ETrade or add it to the account.
Tap Bank account and enter:
- Account Number
- Account Type
- Routing Number
- Accountholder Phone Number
- Accountholder Full Name
Click Save.

I've added some links for your reference. These will explain more on how to use direct deposit for contractors:

Comment again below if you have other concerns. We'll be here to assist.

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