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Level 2

Direct deposit from multiple bank accounts

My employer has two separate LLCs that I bookkeep out of the same QuickBooks file.  Two separate bank accounts, two separate EINs.

 

I've had employees on the main company's bank account set up for direct deposit for a while now, but now I need to set up the employees on the smaller company's bank account set up.

 

My question is, can I have the direct deposits for each company's employees come out of each company's separate account?  Or am I stuck using one bank account to pay everybody?  

7 Comments
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QuickBooks Team

Direct deposit from multiple bank accounts

Hello there, Agann.

 

Considering that this QuickBooks file has different EINs, you should create a separate company for each. One company file is equivalent to 1 EIN.

 

You'll have to create a new file for the second company. This way, you can set up Direct Deposit for each of them.

 

I've got helpful articles for you:

If you have other questions, you can always go back to this thread. We're just around. 

 

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Level 2

Direct deposit from multiple bank accounts

I have specific reasons for keeping both companies in the same QuickBooks file.

 

Creating a new company isn't an option.

 

Surely if you can create multiple bank accounts in a single QuickBooks company file and you write paychecks out of multiple bank accounts, you should be able to pay your employees by direct deposit out of the individual accounts.

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Moderator

Direct deposit from multiple bank accounts

Hello there, @agann.

 

Thank you for the quick response. Allow me to help share some insights about processing direct deposit for multiple bank accounts.

 

Having multiple company direct deposit bank accounts would be a great advantage for you. However, this isn't possible in QuickBooks because it might cause congestion on the system. Currently, QuickBooks will only allow you to set up one direct deposit bank account per company file.

 

Finding new ways to adapt to our customers’ needs is how QuickBooks gets even better. I’ll be sure to share your thoughts with our engineers to see if this feature can be added in the future updates.

 

You might also want to send your suggestion straight to our Product Developers to add this feature. To submit them, just go to the Help menu, select Send Feedback Online and choose Product Suggestion.

 

That should get you back on track.

 

Drop me a comment below if you have any other questions about direct deposit. I'll be happy to help you further. Have a great week ahead. 

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Level 2

Direct deposit from multiple bank accounts

Thanks for the info and the tip on how to submit a suggestion.  I'll do that right now and hopefully I'm not the only QuickBooks user in the world to want this feature.  :)

 

Thank you!

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QuickBooks Team

Direct deposit from multiple bank accounts

You're always welcome, @agann.

 

Please know that we appreciate your feedback and that your voice matters.

 

That being said, I'm making it a top priority that this reaches our engineers. While you send product suggestion on your end, I'll do the same to reinforce your request. 

 

If you have additional questions or concerns, don't hesitate to let us know. The Community is here to help. Thanks for dropping by and take care!

 

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Level 1

Direct deposit from multiple bank accounts

You're not...I need this feature as well.  I have a Non-Profit that uses separate accounts for separate activities and would like to pay from each bank.

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Level 10

Direct deposit from multiple bank accounts


@agann wrote:

I have specific reasons for keeping both companies in the same QuickBooks file.

 


Apart from contravening the IRS regulation of keeping a separate data file for each EIN, and risking their sanctions, there is also the risk of the courts deciding that if you don't view the two EINs as separate companies, then neither will they when it comes to liability protection

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