I can help you with setting up payroll for your checking account in QuickBooks Online (QBO), @moniquemccord-gm.
QuickBooks uses the money in your envelope to fund payroll because it knows about your connected payroll account.
If you sign up for QuickBooks Checking before QuickBooks Payroll, you can follow the steps below:
You're ready to proceed once you've signed up for payroll. Behind the scenes, we'll link your QuickBooks Checking account.
Once done, let’s create an envelope for payroll. Take note that you can only have one envelope for payroll.
You can then run payroll. Also, QuickBooks uses the money in your payroll envelope automatically when you run payroll. Nevertheless, if payroll is more than the amount in your envelope, your QuickBooks Checking account is debited by QuickBooks.
On the other hand, if you signed up for QuickBooks Checking after QuickBooks Payroll, you can go over to this article to learn more: Use money from envelopes to pay for payroll in QuickBooks Online
Let me know if you need further assistance with QuickBooks. I’ll be around to lend a hand. Stay safe!
Appreciate the update, @moniquemccord-gm.
Let's go ahead and update your bank account for payroll transactions directly from Payroll Settings. I'll show you how.
In addition, here's an article you can read to learn more about your payroll bank account: Change Bank Account Information.
Lastly, I've got you this helpful article for ideas about how you can work well with your payroll in QuickBooks: Create Paychecks in Online Payroll.
If there's anything else that I can help you with aside from updating your payroll information, please let me know in the comment section below. I'll be always around ready to help. Take care always!
This link no longer works. We recently tried to utilize our Quickbooks Checking for Payroll and it failed. After many hours on chat we've been informed we can't utilize the Quickbooks Checking account to pay for Payroll?
Greetings, Thomas! We are thrilled to welcome you to our Community thread. Our team is committed to providing you with detailed information about the QuickBooks checking account.
QuickBooks Checking is a business bank account that comes with several benefits, such as no monthly fees, no minimum balances, and no instant deposit fees. This account offers your business complete financial management, cash flow forecasting, and interest-earning potential. To use QuickBooks Checking, you will need to have either a QuickBooks Online account and be approved for online payments or have QuickBooks Money.
Please note that you cannot use a QuickBooks checking account to pay for payroll. You'll need to use the real business bank for payroll purposes.
I've included these articles so that you can read to know further details about QuickBooks Checking:
You can also save this resource that you can refer to in setting up payroll moving forward: Get started with QuickBooks Online Payroll.
The Community is always available to assist you. Please reach out to us by clicking the reply button or creating a new post on our forum. Wishing you a prosperous year, Thomas!