How to Do QuickBooks Direct Deposit/EFT In Intuit QuickBooks Enterprise
The excellent features of Quick Books Enterprise Direct Deposit make the payment of your employees absolutely fast, safe and easy. It saves time of both you and your employees. It does not claim any monthly fees. You are to pay only a minimum flat amount per pay check. You can save a good amount of money per year per employee, by using this programme. User need for clarification for EFT and Direct deposit journal entries can connect QuickBooks Enterprise Help .
Pay with direct deposits by following the easy steps
For paying your employees, first, you need to enter your employee hours and other data, like vacation pay, sick leave, expenses, etc. and then click direct deposit. Now you are to choose, when and where you are intending to pay your employees. It is better for you to schedule deposits 2 to 45 days in advance. You are also to choose a U.S. bank account or an Inuit Debit Card account for payment. Now each paycheck will be deposited directly into the accounts you choose to designate.
Direct Deposit for Independent Contractors
Direct Deposit for Vendors enables QuickBooks Desktop payroll customers with the ability to send direct deposits to 1099 Independent Contractors.The Intuit Direct Deposit service cannot be used to pay bills or make payments to individuals or entities who are not independent contractors, in order to meet Federal and State compliance requirements.
The Basic Requirements Direct Deposit QuickBooks
For using direct deposit features, the vendor must be a 1099 independent contractor.QuickBooks Desktop Payroll Basic, Standard & Enhanced customers need to have the latest release of QuickBooks Desktop installed, and will have to sign up for the Direct Deposit service. Also QuickBooks Desktop Payroll Assisted customers should have the latest release of QuickBooks Desktop installed in their systems.If you need to set your file up to create 1099-MISC forms and mark your vendors eligible for 1099s, you are to set up a vendor and print 1099/1096 forms for additional details. Also, you are to follow some prescribed steps for independent contractors to enable them for direct deposits.
This service is available only to payroll customers making payments to independent contractors and cannot be used to pay bills or make any payments to individuals or entities other than independent contractors in any way.