Let me help you change the bank account for direct deposit in QuickBooks Online (QBO), racerwife.
When changing the bank account for direct deposit, let's make sure that the old account has no pending tax payments or payroll transactions. Once you're ready, follow the steps below:
- Go to the Gear icon on the top menu, and then choose Payroll Settings.
- From Bank Accounts, tap Edit ✎.
- Hit Update.
- Select Add new bank account.
- Search your bank name. You may be asked to enter your online banking user ID and password. Otherwise, select Enter bank info manually. Enter your routing and account number, then select Save.
- Hit Accept and Submit.
Please check this article for more details on changing your bank account for payroll: Change your payroll bank account. Now that your bank account is up to date and connected to your payroll service, the last step is to change your bank account in your accounting preferences. This way, your payroll transactions and tax payments are posted to the correct account in your books. Here's how:
- Go to the Gear icon on the top menu, and then choose Payroll Settings.
- In the Accounting section at the bottom of the page, click Edit ✎.
- In the Paycheck and payroll tax payments tap Edit ✎. From the Bank account ▼ dropdown, select the account you set up in "Step 2: Set up your bank account in your chart of accounts."
- Click Continue, then Done and Done.
I'm also adding this article for more reference about tracking contractors and their payments in our system:
Additionally, here's how you can use direct deposit to pay independent contractors in QBO:
If you have any further questions while managing your contractors' direct deposit, let me know in the comment section below. I'd be delighted to assist you once more. Keep safe!
