Can two bank accounts be active on the same Intuit account for two separate payrolls?

Hi Ronnie,

I'm here to answer your payroll query.

In order to have accuracy when recording payroll, the system only allows you to select one bank account. If you want to change the account, you'll have to modify it manually every time you run payroll.

Here's how:

1. From the Gear icon, select Payroll settings.
2. Click the edit (pencil) icon on the Accounting section.
3. On the Paycheck and payroll tax payments section, click the edit (pencil) icon.
4. Select a bank account.
5. Click Save, then Done.

Moreover, I've added this article if you want to update your employee's pay schedule: Set up and manage payroll schedules.

Keep me posted whenever you have payroll concerns.

Thank you for the response. I had added two accounts to run payroll for two different locations. Upon completing one I went to switch accounts to pay other location. I received an error message that I cannot switch accounts since I have direct deposits and tax payments pending. So I cannot pay employees from two separate accounts on the same pay period until withdrawals from first have been made?

Thanks for getting back to the thread, Ronnie.

Let me join in this conversation and provide you with further insights about your banking concerns for payroll.

With regard to your original query, you can only set up one bank account for direct deposit in QuickBooks Online Payroll. If you want to pay your employees using a separate bank, you'll have to update it in payroll settings . 

To answer your follow-up question, yes, you can't switch your direct deposit (DD bank) account not until you've completed your payroll processes. 

Let's make sure you don’t have any pending tax payments or payroll transactions. This is important to be sure your bank account change is successful and the payroll funds withdraw from the correct account.

Here's how to review your payroll transactions and tax payments status: 

Pending tax payments (QuickBooks Desktop Payroll Enhanced only)

1. Go to Employees menu and select Payroll Center. 
2. Click the Pay Liabilities tab.
3. Select the E-Payments tab to view any pending tax payments.

Pending payroll transactions

1. Select Employees and go to Payroll Center.
2. Click the Payroll tab to view any pending payroll transactions.

After that, you can now change your bank account and verify it with a test transaction. Once verified, the last step is to change it in your accounting preferences. This will ensure your payroll transactions and tax payments post to the correct account in your books.

For complete guidelines, please follow the steps in this article: How to change your company's bank account for payroll.

In case you need to update your employee's bank account for direct deposit in the future, this resource will be handy as well: Change your employee's direct deposit info.

Feel free to visit the Community again if you need more help with QuickBooks. I’m always ready to assist further. Take care and have a great day ahead.

QuickBooks - please fix this!  When we are running PAYROLL versus paying CONTRACTORS we are using two different bank accounts.  This is a system FLAW that we cannot use a different bank account and it requires us to manually go in and change it in the settings.  

Hello there, marcycpa.

Thank you for bringing this issue to our attention regarding the use of different bank accounts for running payroll versus paying contractors in QuickBooks. I appreciate your feedback and understand the importance of having a seamless experience when managing your finances. 

To ensure that your concern is properly addressed, I recommend sharing your feedback directly with our developer team. They will assess and evaluate your idea thoroughly. Your input is valuable in helping us improve and enhance our product. Here's how:

1. In your QBO account, go to the Gear icon.
2. Select Feedback under Profile.
3. Enter your suggestion. Then, click Next.
   

For now,  I suggest considering the information they have shared above.

If you have any additional ideas or concerns, please feel free to comment below. You can also tag me, and I'll assist you as soon as possible. Stay safe and goodbye for now!

Why is there a drop down menu for your chart of accounts (bank account) on the final payroll page when processing a paycheck if payroll can only be linked to one account? 

I'm here to share insights about the drop-down menu in the Chart of Accounts when running payroll, Tammy.

The drop-down menu for the chart of accounts on the final payroll page in QuickBooks Online ensures you select the specific bank account from which the payroll funds will be withdrawn. If you need to change the bank account you use for payroll, you can only update it in the payroll settings.

For more details about running payroll in QuickBooks, see this link: Create and run your payroll.

Although payroll can only be linked to one account, I'd recommend sending feedback if you use two different bank accounts when processing payroll. Our Product Development team will directly receive your feedback and work to enhance your overall experience with QBO. You can follow the steps shared by my colleague SarahannC or click this link: How do I submit feedback?

Additionally, I'll be sharing these links that will guide you in managing your pay schedules and running them automatically in QuickBooks:

• Set up and manage payroll schedules
• Set up Auto Payroll to pay your employees

If you have questions about bank accounts or running payroll in QuickBooks, please add them in the comment section. I'm always here to help. Have a great day, and take care!

Thanks for the timely response.  I understand you must change the bank account in the payroll settings and that only one bank account can be linked at a time.  For six years or so I've wondered why there is an option to choose a COA bank account on that final payroll page when processing payroll.  It's confusing because even if you choose a different account from that dropdown menu, the books will not reflect that.  For example, if you have "savings account" linked to your payroll but when you process payroll you choose "checking account" from the drop down menu, nothing changes and the paycheck still shows in the savings account COA. 

I will provide feedback as you suggested since some of my clients use an account type that doesn't offer checks and they run direct deposit for paychecks.  This causes problems when an employee needs to receive a paper check for one reason or another.