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mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

 
12 Comments
Mark_R
QuickBooks Team

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Glad to have you here in the Community, @mikidzmimi24.

 

At this time, 943 is not part of the forms that we prepare for you. However, you have the option to file the 943 form through Intuit TurboTax. This is another Intuit software where you can file your taxes smoothly.

 

On the other hand, you can set up your payroll bank account to use direct deposit in QuickBooks Online (QBO). This requires a US bank account that is set up for ACH transactions. To know the step by step process of setting this up, you can read this article: Set up your company payroll for direct deposit.

 

Also, for payroll tax deposits, you can either pay and file your payroll taxes electronically or directly to the federal and state agencies. You might want to check out these articles to learn the process on how to handle payroll taxes in QBO:

 

 

I'm still open to your replies. If you have other concerns with QuickBooks payroll, don't hesitate to leave a comment below. Have a great day ahead!

mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

I have set up for Direct Deposit for my employees. Did I mention I have only had Quickbooks for 2 days? I learned this morning Quickbooks was not able to populate the 943. My employees would like to use the Direct Deposit option, but if Quickbooks calculates and deposits the withheld taxes if I understand correctly they would be deposited as 941 taxes, which would not be correct in my case. I would like to Not have Quickbooks deposit the taxes and still use Direct Deposit for my employees. Any information on that?

 

LieraMarie_A
QuickBooks Team

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Hi there, @mikidzmimi24. Thanks for the additional information.

 

Our QuickBooks Desktop Payroll service can generate a worksheet with the details of the 943 form. However, you'll still have to file it directly to your tax agency. If you're interested, I'd recommend giving us a call. Our support team can help choose the best product that suits your needs. You can contact them through your QuickBooks Online account.

 

Here's how:

  1. Click the (?) Help icon in the upper right-hand corner of the Dashboard.
  2. Select Talk to a Human.
  3. Enter a short description of your concern and press Enter.
  4. Click I still need a human.
  5. Select Contact Us to connect with our live support.
  6. Choose Get a callback.
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I've added an article that provides an overview of the 943 form in QuickBooks Desktop.

 

You might also want to visit the IRS website for more details about the instructions of your 943 tax form: Instructions for Form 943.

 

Reach out to me directly if you have additional questions about the payroll features. I'll be glad to keep helping. Have a great day ahead.

mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Thank you both for the information. I am going to study my options more before I jump headlong into a solution. I will let you know how it all turns our.

Have a Blessed Weekend!

mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?


You stated: Also, for payroll tax deposits, you can either pay and file your payroll taxes electronically or directly to the federal and state agencies.
Can I use direct deposit and make my payroll tax deposits, myself?
mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Addition to the previous message.

 

I did read the links you provided. I am set up to make payroll tax deposits online and have been paying them that way. 

 

Question concerns this statement in the link you provided, 

Federal tax payments

IRS requires you to pay taxes electronically. If you're not signed up for our electronic services, sign up directly with the IRS Electronic Federal Tax Payment System (EFTPS). With EFTPS, you can approve the payment, and the IRS automatically withdraws the funds from your account.

 

At the point of approving the payment am I able to direct the deposit to the 943 instead of 941?

BettyJaneB
QuickBooks Team

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Glad to have you back here in the Community, @mikidzmimi24.

 

Let me provide some clarifications regarding the direct deposit and e-pay functionality in QuickBooks Online.

 

The direct deposit and electronic payment feature in the system are intended for the 941 taxes. That said, processing payments for 943 taxes isn't available.

 

However, to verify on how you can pay your 943 taxes, I suggest reaching out to the Electronic Federal Tax Payment System support team. They'll be able to provide you options on what's he best way to handle 943 payments.  

 

For your reference, I'm also sharing this link to give you more insights about how paying or filing your taxes works in QBO: Pay and file your payroll taxes online.

 

I'll be around to help if there's anything else that you need. Feel free to reach back to me. Have a nice day!

mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Hi Betty, 

Thanks for replying. I already know how to do all the calculations and deposits manually. I have been doing it for over a year. 

 

I bought Quickbooks specifically for the payroll portion. I want to be able to direct deposit for myself and one other employee. I wanted QB to do the calculating of taxes for me. I believe there is a report that I can run to populate the amounts I should deposit.

 

I do not need QB to do the depositing as I understand QB does not support 943. I do want QB for Direct Deposit.

 

Is this possible?

Rasa-LilaM
QuickBooks Team

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

I appreciate adding more details about your concerns, mikidzmimi24.


As mentioned by my colleague, you can set up your payroll bank account to use direct deposit in QuickBooks Online (QBO). Make sure it’s a US account that is set for ACH transactions.


To activate the feature, follow the recommended steps in this article. Then, choose QuickBooks Online Payroll: Set up your company payroll for direct deposit.


For your other concern, run the Payroll Tax Liability report to see the amounts you should deposit. This will show the taxes you need to pay and the ones already paid.

 

Please know the data will show as 941/944 taxes.

 

Here's how to build the report:

 

  1. Navigate to the Reports menu on the left panel and enter the Payroll Tax Liability in the field box.
  2. From there, click the Date Range drop-down and select the correct period.
  3. Hit the Run Report button to show the changes.

Additionally, these resources outline the complete steps on how to accomplish the following tasks.

 

 

If you have any clarifications or other questions about QuickBooks, feel free to leave a comment below. I’ll jump right back in to answer them for you. Enjoy the rest of the day.

mikidzmimi24
Level 2

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Thank you, this is very helpful.

Do you know if I can use direct deposit without turning on the automated forms that would deposit the payroll taxes automatically to 941?

 

 

MaryLurleenM
Moderator

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

Are you referring to running direct deposit payroll, mikidzmimi24?

 

If so, yes, you can use direct deposit without turning on the automated forms. You can run payroll and activate direct deposit for your employees. You can read this article for the detailed steps: Set up your company payroll for direct deposit. Make sure to select QuickBooks Online Payroll.

 

Before you can use direct deposit, you’ll need to set up your payroll bank account. Direct deposit requires a US bank account that is set up for ACH transactions.

 

Check out these articles for future reference:

Stay in touch with me if you have other questions about using direct deposit in QuickBooks. 

kpooj
Level 1

Does anyone file 943 through Quickbooks? If not, how do you handle the Direct Deposit and payroll tax deposits?

I have used QB payroll (943 & 941) for over 10 years.  You can pay 943 liabilities according to your payment schedule (View/Pay) and when the liability payment window pops up, near the bottom right corner there is a pull down window and you can select which deposit you want to make (941/944/943, etc.).

Annually for the 943 form, fill in the online questionnaire/forms and print the sample report.  Go to the IRS website and download the annual 943 PDF form and fill in the blanks, print, and mail - simple.

Suggestion - every time you make a liability payment (E-Payments (If you are new to payroll you will need federal and state PINS)) make clearing adjustments (penny rounding errors) every period when making deposits in the Expense Tab - much easier that way and then you don't have to try to figure out at the end of the period..

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