How to pay contractors with direct deposit in QuickBooks Online

hi this is Jason from the QuickBooks team QuickBooks helps you pay your contractors electronically with direct deposit you can either sign up for QuickBooks payroll and pay both contractors and employees or sign up for an option to only pay contractors with direct deposit let's go over how to set up direct deposit and the steps to pay your contractors in QuickBooks to start you'll need at least one contractor on your contractor's page you can set up contractors in two ways if you've already set someone up as a vendor and you want to pay them with direct deposit as a contractor open the vendors list and select their name note that your navigation may look like this then edit the vendor and select the check box to track payments for 10.99. then select save this puts the vendor on the contractors page if you haven't already set them up on the vendors list you can add them directly to the contractors list check out this video to learn how note that your navigation may look like this if you've set up QuickBooks Online payroll you're ready to add your contractor's Bank info and start paying them we'll go over how to do that in a bit for this example we'll show what to do if you don't have QuickBooks payroll to start paying contractors with direct deposit follow this link after you've signed up for contractor direct deposits it's time to set up your banking information select get started answer any questions and select done then select let's go select the business section then enter info about your business then enter information about the owner of the business or principal officer the principal officer is an authorized signer on the business bank account enter their name address birthday and social security number then enter your banking info the fastest way to connect your bank account is to select your bank or search for it and then sign in with your online banking username and password if you don't have that info or can't find your bank in the list you can manually enter your routing and bank account numbers select accept and submit if you entered your bank info manually or you didn't get the message that QuickBooks connected your bank account you'll need to wait for Intuit to make a test deposit to your bank account within two business days after two business days check your bank account for the two amounts sign into QuickBooks then go to payroll overview and select let's go then verify your account enter the two amounts you see in your bank account and select verify now you can pay your contractors with direct deposit to pay a contractor go to the contractors page QuickBooks may need more info before you can pay a contractor with direct deposit though select finish setup and pay if you have their W-9 and banking info on hand select add info manually or enter their email address and then select request QuickBooks sends them an email with instructions on how to submit banking info let's pay a contractor with direct deposit if you have an open bill with the contractor QuickBooks will ask if you want to pay the bill or create a new expense in this case let's enter a new expense enter the amount you want to pay them an account usually there should be an expense or cost of goods sold account a description for your own records and if this is a payment for work on a specific customer or project select it from the customer drop down menu if you're paying them for multiple jobs or expenses select add payment to split the expense select the bank account you're using to pay them and the date you're paying them then select pay select view last payment to look at past payments you've made to the contractor now you're ready to pay your contractors with direct deposit

Channel: Intuit QuickBooks

Views: 28,360

Keywords: Intuit, QuickBooks, QB, QBO, QuickBooks Online, Tax season, Taxes, quickbooks tax, quickbooks finance, finance, small business, entrepreneur, How to pay contractors with direct deposit in QuickBooks Online, direct deposit, pay contractors, paying contractors, payments, setting up direct deposit, paying, bills, invoices, contractors, QuickBooks Online tutorials, QuickBooks Online training, QuickBooks Online how-to, how-to, training, tutorials, receiving payments, making payments, salary, how tos

Id: 9Sd_3qnves0

Length: 4min 46sec (286 seconds)

Published: Tue Aug 08 2023