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Intuit Direct Deposit Form
An Intuit Direct Deposit Form is a formal document completed by an employee that authorizes their employer to send their salary to a specified bank account.
Alternate Name:
- Intuit Direct Deposit Authorization.
Since most organizations stopped issuing paper checks and stubs and prefer electronic money transfers of funds, your business should take advantage of this safe and convenient way to send money to its employees. You can deposit money directly to the bank account using the information provided to you by the employee with the help of the online payroll system. Besides, the standard amount of Intuit Direct Deposit fees is $1.75 for each transaction making it one of the most affordable payroll setups on the market.
You can find an Intuit Direct Deposit Form via the link below.
How to Set Up Direct Deposit in Intuit?
The first step you have to take when setting up Intuit Direct Deposit is obtaining a consent form signed by the employee. Help them fill out this document:
- Indicate the main details of the bank account - the type of the account (checking or savings), the bank routing number, the account number, and the percentage or amount of money you wish to be deposited to the account in question. You may list the details of one more account if they plan to separate the wages. Note that it is important to record the correct routing number - you can find it at the bottom of an old check issued by the financial institution.
- Record the name of the entity. Ask the employee to sign the consent form. Add their work identification number, full name, and the actual date of signing. The signature of the individual certifies their consent to send salary to the account they have described above.
- Note that to be processed, the authorization must be submitted along with the voided check provided by the employee - it should contain the number of their account and the bank routing number.
Once the authorization is signed, the human resources department or the employer has to take care of the Intuit Direct Deposit setup via their QuickBooks account online. Open the Settings and go to Payroll settings - click on "Direct Deposit". State the details of the employer bank account and the employee responsible for the account, click Continue, and wait for an e-mail that will tell you the initial setup is done. Open the direct deposit settings again and click "Set Up" across the name of every employee - choose "Direct Deposit", indicate the details of the bank account the employee has disclosed, and click "Ok". You may be asked to run a test transaction - ensure the bank account of the organization does not have a zero or negative balance to let Intuit check whether the direct deposit setup can be established.
What Time Does Intuit Direct Deposit?
To guarantee the employees get paid on time, you must send the payroll details to Intuit before 5 p.m. Pacific Standard Time two business days before the payday - this way, you will take the possible delays into consideration. Intuit will be able to debit the bank account one business day before the date indicated by the employer. Before the aforementioned time, you can cancel the payment - however, if you try to stop the transaction later, it will not be possible: the Intuit Direct Deposit schedule is precise as a general rule, and the money will be transferred by that time. However, the exact Intuit Direct Deposit time is determined by the financial institution of the employee - contact them if the delay seems significant and you cannot access your funds.
Haven't found the template you're looking for? Take a look at the related templates below:
- Chase Direct Deposit Form;
- Wells Fargo Direct Deposit Form;
- Bank of America Direct Deposit Form.
