I'd like to thank you for coming to our Community page, @kjohnson-perfect. With this insight that I am about to share with you, it will save you time.
Requesting a direct deposit reversal will take 5 business days from the pay date. But this does not guarantee the funds will be recovered. You need to determine first if your reason will meet the criteria below:
- The reason is in compliance with ACH or EFT laws. For example, duplicate payments or unintended payments.
- The total amount is greater than $50 (due to the $75 direct deposit reversal fee).
- The direct deposit paycheck wasn’t rejected.
- It’s within 5 banking days (US) of the paycheck date, before 12:00 PM PT. Note that the posting date is the day 1.
- The bank account you want to reverse funds from must still be in the employee's profile.
Furthermore, a reversal request doesn’t guarantee you’ll get the money back. There’s a $75 charge even if the reversal is unsuccessful.
You can check this article for more information about the reverse of a direct deposit in QuickBooks Payroll.
Once everything is all set, you might need to fix your employee's paycheck.
If you need more guidance about reimbursing a paycheck, don't hesitate to click the reply button. I'm always around to help!
