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Join nowHi there, @elva1.
Welcome and thanks for joining us here in the Community. I'm here to share some information about paying a subcontractor via wire transfer/direct deposit in QuickBooks Online (QBO).
Yes! In QBO, you can pay a subcontractor or vendor via wire transfer or direct deposit depending on what you prefer. If you wish to pay them via wire transfer, you need to sign up for Online Bill Pay to activate this feature in QBO. On the other hand, for the Direct Deposit, you will need to subscribe to an online payroll service (QuickBooks Online Payroll or QuickBooks Full Service Payroll) to use this feature.
There are two different methods to set up a vendor for wire (bank) transfers. The first one is to invite the vendor to create a free account to receive payment. Here's how:
1. Log into your QBO account, then click the Plus icon at the top.
2. Pick Pay Bills Online, then choose the Bill Pay Online dashboard widget.
3. To set up a vendor with open bills, select Set up Bank Transfers within the same line as the Payee.
a. Select Invite vendor to receive bank transfers, then Next.
b. Enter the Vendor's email address if not populated already.
c. Customize the Message to the vendor by clicking the Edit icon, if applicable.
d. Click Send Invite.
The second one is to enter the vendor's bank account manually. For your reference, you may check out this article for further guidance: Online Bill Pay - Setting up bank transfer (ePayment) for a vendor. For the Direct Deposit, you may also check out this helpful article for more details (scroll down to How do I set up my contractors for direct deposit payment?): Contractor direct deposit for QuickBooks Online Payroll and QuickBooks Full Service Payroll.
That's it! Please let me know how it goes or if you have any follow up questions. I'm only a post away if you need further assistance. Take care and have a great day.
What is the cost for the wire transfer or Direct deposit transfer??????
Hello Certaseacoast,
The cost of the direct deposit for contractor per month is the same as the per active employee fee per month. The exact fee depends on your QuickBooks Online Payroll subscription. With that said, you can make multiple direct deposit payments to a contractor in a month with a flat fee. You can visit this link to see the exact fee per employee per month: https://quickbooks.intuit.com/payroll/pricing/.
You can also go to the Billing section of this article if you have additional billing questions: Contractor direct deposit.
We'll be right here if you have other queries about it. Have a great day!
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