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cellosister
Level 1

separate accounts to pay taxes and payroll

I automatically take a percentage of every dollar that comes in and deposit in a savings account explicitly for taxes. I pay payroll through the checking account. Can i pay taxes via quickbooks from a different account (my tax savings account) than i pay my payroll through?

4 Comments 4
jenop2
QuickBooks Team

separate accounts to pay taxes and payroll

Let me join you here and swiftly address your payroll-related inquery, cellosister.

 

For now, we can only use one bank account when creating paychecks and sending tax payments in QuickBooks Online. Although, you can switch back and forth between banks after the pending transactions have been completed.

 

Refer to this article for detailed instructions: Change Your Payroll Bank Account.

 

I can totally see the advantages of having this feature in QBO. You can send feedback about having the option to use multiple bank accounts when running payroll in the program. Here's how to do it inside your account: 

 

  1. Go to the Gear icon and select Feedback.
  2. Type in your feedback and suggestions about being able to use a different bank account for tax payments in QBO.
  3. Click Next to submit them.

 

All customer feedback and suggestions are collected and reviewed by the product development team as they plan updates and enhancements for the software. It's a valuable way to contribute to the improvement of the product.

 

For additional payroll-related resources, allow me to share these articles here: 

 

 

Feel free to reach out to the QuickBooks Team whenever you require assistance. We are committed to providing our guidance and assistance whenever you need it.

cellosister
Level 1

separate accounts to pay taxes and payroll

I appreciate the clear and concise answer, thank you. That being said, yes, it's a massive inconvenience to have to switch back and forth between accounts manually, and this also interferes with the efficient system I've implemented managing my accounts outside of QBO. I will submit feedback, though i understand it's unlikely to initiate any systemic changes within the software. 

Mokelah
Level 1

separate accounts to pay taxes and payroll

We are facing the same challenge.

Rasa-LilaM
QuickBooks Team

separate accounts to pay taxes and payroll

Thank you for following up on this thread, Mokelah.

 

Having separate accounts to pay taxes and payroll can help maintain clear records and ensure that your tax obligations are met without affecting your day-to-day cash flow. I'm here to provide information on the number of accounts you can set up for your payroll (Bank accounts section).

 

As previously mentioned by my colleague, you can only use one account when running payroll and sending tax payments. On the other hand, you can change your payroll bank account after completing any pending payments. Here's an article that goes over the process in detail: Change Your Payroll Bank Account.

 

Our aim is to offer features that meet users' needs and improve their overall working experience. Numerous users will benefit from the ability to use multiple accounts for payroll. Let's send this idea directly to our developers so they can consider adding this feature in future releases. Simply follow these steps to send feedback:

 

  1. In your company, head to the Gear icon and select Feedback under Profile.
  2. Enter your product suggestions in the field box. 
  3. Click Next to submit.

 

Stay up-to-date with the latest product news and features rolled out by engineers through the QuickBooks Blog. It offers a variety of tools and resources to enhance the growth of your business.

 

I have gathered a collection of resources to assist you in completing this year's payroll tasks. These links provide detailed information on when to submit your payroll forms, make tax payments, and manage other payroll activities. Open each article for the complete details:

 

 

Keep me posted if you have other payroll concerns or questions about setting up a new bank account. I'll get back to provide the assistance you need. Have a good one, Mokelah.

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