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Change your payroll bank account

SOLVEDby QuickBooksQuickBooks Desktop Payroll507Updated December 22, 2022

Learn how to change your company's bank account for payroll.

If you recently opened a new bank account, you'll want to make sure to change the account with us right away.  Then there’s no interruption to your direct deposits or payroll tax payments.

There’s several steps to follow to get this done right. But don’t worry, we’ve got you covered.  If you're new, follow all the steps in this process. If you’ve already completed any of these steps, select your next task below. Either way, you’ve got everything you need to change your payroll bank account.

Notes: If you need to change your bank account immediately due to suspicious activity, or you already closed your existing bank account:

Note: Don't know which payroll service you're using? Find out which payroll service you have.

Step 1: Gather your bank account info, principal officer address, and payroll PIN

  1. Get your bank info. You can find your bank name, routing number, and account number on a check. (However, don't use the routing number from deposit slips).
    QuickBooks Online Payroll only: You may be able to use your online banking user ID and password.
  2. You may be asked for your principal officer’s physical address. This can't be a P.O. Box. As a licensed money transmitter, Intuit Payments must comply with legal requirements, applicable laws, and regulations.
  3. QuickBooks Desktop Payroll only: Get your Payroll PIN you use to send your payroll to Intuit.

Step 2: Set up your bank account in your chart of accounts

Let’s get your bank account added to your chart of accounts. This is important so your payroll transactions post to the correct register in QuickBooks.

  1. Select Settings ⚙ and then Chart of Accounts.
  2. Select New to create a new account.
  3. In the Account Type ▼ dropdown menu choose Bank.
  4. In the Detail Type ▼ dropdown, select the type of bank account.
  5. Give your new account a name. You can use the info under the detail type to add a name that fits.
  6. Optional: Add a description.
  7. If you’re adding a sub-account, select Is sub-account and then enter the parent account. If you need help, learn more about parent accounts and subaccounts.
  8. In the When you want to start tracking your finances from this account in QuickBooks ▼ dropdown, select a time period. Or select learn more about opening balances:
    • Select Today if the account you're tracking is brand new as of today. In the Account Balance field, enter the amount in the account as of today.
    • If you started the account on another date, select Other. In the Select a date field, enter the date you want to start tracking transactions in QuickBooks. In the Account Balance field, enter the balance of the account for the date you choose.
  9. When you're done, select Save and Close.
  1. Select Lists, then Chart of Accounts.
  2. Select  Accounts, then New.
  3. Select Bank, then Continue.
  4. Enter your bank account information.
  5. Select Save and Close to save your changes.

Step 3: Check for pending tax payments and payroll transactions (direct deposits or paychecks)

The next step is to 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.

Pending tax payments

From the left menu, select Taxes then Payroll Tax.  Select the Payments or Tax Payments tab.

  • If there are any payments dated for today’s date or earlier, they will be taken from the current bank account.
  • If there are any payments dated after today’s date, contact us for assistance with handling these payments.

Pending payroll transactions

Go to Payroll, then Employees. Next select Paycheck list below the Run Payroll button.

  • If there are any paychecks dated one business day or sooner from today’s date, then the funds will be taken from the current bank account.
  • If there are any paychecks dated two business days or later (and it is before 6:00 PM PT), then you may delete them. Select the box next to each paycheck and select the Delete button above the paychecks. You’ll add them back later at the end of Step 6.

Pending tax payments (QuickBooks Desktop Payroll Enhanced only)

  1. Select Employees, then Payroll Center, then select the Pay Liabilities tab.
  2. Select the E-Payments tab to view any pending tax payments.

Pending payroll transactions

  1. Select Employees, then Payroll Center.
  2. Select the Payroll tab to view any pending payroll transactions.

Step 4: Change your bank account

Now it's time to change your bank account with the payroll service. You may be able to connect your new bank account instantly.

  1. Select Settings ⚙, and then select Payroll Settings.
  2. From Bank Accounts, select Edit ✎.
  3. Select Update.
  4. Select Add new bank account.
  5. Search your bank name. You may be asked to enter your online banking user ID and password. Otherwise, select Enter bank info manually. Enter your routing and account number, then select Save.
  6. Select Accept and Submit.

Now that you've set up your bank and can track it in QuickBooks Desktop, it’s time to update the information in QuickBooks Payroll Account Management Portal.

QuickBooks Desktop Payroll Basic, Standard, Enhanced

  1. Select Employees, My Payroll Service, then Accounts/Billing Information.
  2. Sign in using your Intuit Account login.
  3. Go to the Payroll Info section. Under Direct Deposit Bank Account select Edit.
  4. Enter your payroll PIN, then select Continue.
  5. Enter your new bank account info, then select Update. When you receive the confirmation message, select Close.

QuickBooks Desktop Payroll Assisted

  1. Select Employees, then My Payroll Service, then Billing/Bank Information to access the Payroll Service Account Maintenance pages.
  2. Under Bank Account Information, select Edit next to Bank Account.
  3. Enter your payroll PIN, then select Continue.
  4. Enter your new bank account info, then select Update. When you receive the confirmation message, select Close.

Step 5: Verify your bank account (if you connected manually)

Within 2-3 business days, we'll verify your new account with a test transaction. A few things to know about test transactions before you get started:

  • After changing your bank account information, a test transaction should appear in your bank statement in 2-3 business days
  • This amount should be a debit and credit of less than $1.00 from Intuit Payroll Service
  • You can call your bank or check your bank statement online to verify the amount
  • Make sure the test transaction is cleared (not pending) on your bank statement before proceeding, otherwise the bank verification will fail.

To verify your new bank account:

  1. After you see the cleared test transaction in your bank statement, open QuickBooks Online and sign in.
  2. Select Payroll and select Overview.
  3. In the TO DO list, find the Check your bank account item, then select Edit .
  4. Select Verify Amount.
  5. Enter the amount of the test transaction (no decimals) in both fields.
  6. Select Verify.

QuickBooks Desktop Basic, Standard, Enhanced Payroll

  1. Open QuickBooks Desktop.
  2. Select Employees, then My Payroll Service, then Account/Billing Information.
  3. Sign in using your Intuit Account login.
  4. Go to the Payroll Info section, under Direct Deposit Bank Account select Verify.
  5. Enter and confirm your payroll PIN.
  6. Select Submit. Once you receive the ‘Your bank account is verified’ message, select Return to QuickBooks.

QuickBooks Desktop Assisted Payroll

  1. Open QuickBooks Desktop.
  2. Select Employees, then My Payroll Service, then Billing/Bank Information to access the Payroll Service Account Information pages.
  3. Under Bank Account Information select Verify. The Verify Bank screen will open.
  4. Enter the 2 test transaction amounts from your bank statement without decimals into Amount 1 and Amount 2 fields.
    Note: it doesn’t matter which order you enter the amounts.
  5. Enter and confirm your payroll PIN.
  6. Select Submit. Once you receive the ‘Your bank account is verified’ message, select Return to QuickBooks.

Step 6: Change your default bank account in your preferences

Now that your bank account is verified and ready to use with your payroll service, the last step is to change your bank account in your accounting preferences. This will ensure your payroll transactions and tax payments post to the correct account in your books.

  1. Select Settings ⚙, then Payroll settings.
  2. In the Accounting section at the bottom of the page, select Edit ✎.
  3. In the Paycheck and payroll tax payments select Edit ✎. From the Bank account ▼ dropdown, select the account you set up in "Step 2: Set up your bank account in your chart of accounts."
  4. Select Continue, then Done and Done.

Once the bank account is updated, you can recreate any paychecks you may have deleted in Step 3.

  1. Select Employees, then Send Payroll Data.
  2. On the Send/Receive Data window, select Preferences.
  3. In the Account Preferences, select the new bank account from the ▼ dropdown.
  4. Select OK to save your changes.
  5. Select Close on the Send/Receive Data window.

Change the default bank account for your QuickBooks Payroll Service liability check:

  1. In QuickBooks, select Employees, then Send Payroll Data.
  2. Select Preferences to open the Payroll Service Accounts window and select your new bank account from the Pay Payroll Liabilities with ▼ dropdown.
  3. Select OK.
  4. Select Send and enter your Payroll PIN.

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