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Quickbook Transfer

The document outlines a step-by-step process for running Direct Deposit transfers using QuickBooks, including setting up accounts, entering recipient details, processing payments, confirming transactions, and notifying recipients. It also mentions the pricing link for QuickBooks and lists some disadvantages, such as the requirement for ID verification and restrictions on illegal use. Overall, QuickBooks is recommended for legitimate payroll and payment processing.

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3 views3 pages

Quickbook Transfer

The document outlines a step-by-step process for running Direct Deposit transfers using QuickBooks, including setting up accounts, entering recipient details, processing payments, confirming transactions, and notifying recipients. It also mentions the pricing link for QuickBooks and lists some disadvantages, such as the requirement for ID verification and restrictions on illegal use. Overall, QuickBooks is recommended for legitimate payroll and payment processing.

Uploaded by

hosthomework
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Here’s a simplified step-by-step process to run a Direct Deposit transfer using

QuickBooks:

Step 1: Set Up Direct Deposit (One-Time Setup)


1. Open QuickBooks and go to Payroll Settings (for employees) or Pay Bills (for
vendors).
2. Enter your business bank account details and verify it.

Step 2: Add the Recipient’s Bank Details (One-Time Setup)


1. Go to Employees (for payroll) or Vendors (for payments).
2. Enter the recipient’s bank account number and routing number.

Step 3: Process a Direct Deposit Transfer


1. For Employees:
• Go to Run Payroll, select the employee, enter the amount, and choose Direct
Deposit.
• Click Submit Payroll.
2. For Vendors:
• Go to Pay Bills, select the vendor, enter the amount, and choose Direct Deposit.
• Click Submit Payment.

Step 4: Confirm the Payment


• Go to Banking > Direct Deposit Activity to check if the transfer is scheduled,
processing, or completed.

Step 5: Notify the Recipient


• Employees automatically get pay stubs.
• For vendors, send a payment confirmation email if needed.
Below are the prices for the quickbook and this is the link to use

https://quickbooks.intuit.com/pricing/#
Some Disadvantages of using Quickbook to run direct deposit

1. Since it a legal software, they require every user to upload his ID


and selfie verification before an account is created
2. If a hacked bank log is used, they will allow it to charge back after
sometime.
3. They require a business certificate and EIN before they allow you
to complete verification.
4. It is a perfect tool if you want to run payroll or direct legitimately
to your employees, but if you using it for blackhat jobs illegally, it
not the best tool to use.

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