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dekleined
Level 1

Two DBAs, would like to separate payroll taxes and utilize different accounts for direct deposit. Do I need a second account?

 
4 Comments 4
Anonymous
Not applicable

Two DBAs, would like to separate payroll taxes and utilize different accounts for direct deposit. Do I need a second account?

Hello dekleined,

 

Thanks for posting!

 

If the two DBAs has different tax identification numbers (FEIN), you'll need to sign up for another QuickBooks Online account. Otherwise, you may use the class tracking feature so that you can still keep track of their transactions. One direct deposit account can only be use for one payroll account.

 

To sign up for a new account, please go to this link: https://quickbooks.intuit.com/pricing/.

 

For class tracking, you'll need to turn on this feature in the company settings. Please note that this is only available in the Plus and Advanced versions.

  1. Click on the Gear icon.
  2. Choose Account and Settings.
  3. Click on Advanced.
  4. In the Categories section, check the Track classes box.
  5. Click on Save.

Here's how to set up classes:

  1. Click on the Gear icon.
  2. Select All Lists
  3. Select Classes.
  4. Click on New.
  5. Enter the information. 
  6. Click on Save.

To assign classes to employees, please follow these steps:

  1. Click on the Gear icon.
  2. Choose Payroll Settings.
  3. Select Accounting.
  4. In the Classes section, choose I use different classes for different employees.
  5. Click on OK.
  6. In the Preferences - Employee Classes, assign classes to employees.
  7. Click on OK.

Should you need more help, please post your questions here. Thanks! 

dekleined
Level 1

Two DBAs, would like to separate payroll taxes and utilize different accounts for direct deposit. Do I need a second account?

Thank you for the reply!

 

Will adding classes permit two different bank accounts being utilized for tax payments and payroll direct deposit? 

dekleined
Level 1

Two DBAs, would like to separate payroll taxes and utilize different accounts for direct deposit. Do I need a second account?

Oh and both businesses are under same FEIN.

MaryLandT
Moderator

Two DBAs, would like to separate payroll taxes and utilize different accounts for direct deposit. Do I need a second account?

Hi there, @dekleined,

 

We're unable to pay taxes and process payroll with two different bank accounts. Adding classes only helps track the account used for paying your employees and paying taxes.

 

You can change your bank account information. However, this will switch off your e-services and you'll have to re-enroll.

 

That answers your concern for today. Please don't hesitate to leave a comment if there's anything I can help with your QuickBooks. I'm always around whenever you need help.

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