Direct deposit is a convenient and secure way to receive your paycheck. With direct deposit, your paycheck is electronically deposited into your bank account on payday. This eliminates the need to wait for your paycheck to arrive in the mail or pick it up from your employer.

Intuit Payroll makes it easy to set up and manage direct deposit for your employees. In this article, we’ll explain how direct deposit works with Intuit Payroll and the benefits of using direct deposit for both employers and employees.

How direct deposit works with Intuit Payroll

To set up direct deposit for your employees with Intuit Payroll, you’ll need to collect the following information from each employee:

• Bank account number
• Routing number

Once you have this information, you can enter it into Intuit Payroll. Intuit Payroll will then send a test deposit to your employee’s bank account to verify the information. Once the test deposit has been verified, your employee’s paycheck will be directly deposited into their bank account on payday.

Benefits of using direct deposit

There are many benefits to using direct deposit, including:

For employers:

• Reduced costs: Direct deposit can help employers reduce costs associated with printing and mailing paychecks.
• Increased efficiency: Direct deposit can help employers save time and improve efficiency by eliminating the need to manually process paychecks.
• Improved employee satisfaction: Employees appreciate the convenience and security of direct deposit.

For employees:

• Convenience: Direct deposit is a convenient way to receive your paycheck. You don’t have to wait for your paycheck to arrive in the mail or pick it up from your employer.
• Security: Direct deposit is a secure way to receive your paycheck. Your paycheck is electronically deposited into your bank account, so there’s no risk of your paycheck being lost or stolen.
• Access to your paycheck early: Some banks offer early direct deposit, so you may have access to your paycheck up to two days earlier than you would if you received a paper check.

How to set up direct deposit with Intuit Payroll

To set up direct deposit with Intuit Payroll, follow these steps:

1. Go to the Employees tab and select the employee you want to set up direct deposit for.
2. Click the Edit button next to the employee’s name.
3. In the Payment Method section, select Direct Deposit.
4. Enter the employee’s bank account number and routing number.
5. Click the Save button.

Once you’ve followed these steps, direct deposit will be set up for the employee. Their paycheck will be directly deposited into their bank account on payday.

Conclusion

Direct deposit is a convenient and secure way to receive your paycheck. Intuit Payroll makes it easy for employers to set up and manage direct deposit for their employees. If you’re not already using direct deposit, I encourage you to consider setting it up. It’s a great way to save time and improve efficiency for both employers and employees.