Quickbooks direct deposit form is typically a legal document that permits employer to pay employees by means of direct deposit. In this template, the employee specifies the target account where he/she prefers to receive credits and employer consents to the same. Sometimes, an employee will also have to provide a void check that will be forwarded to payroll department.
Where is Intuit Direct Deposit form used?
Not restricting to employees, you can also notice employers using this template to issue payments to the vendors. Though this method consumes a bit of time, it is still practiced by many organizations.
On the other hand, if the organization is supposed to receive payment from its client, it can also submit the template to client. By default, one issue is treated as one payroll.
You should know the security limits of this method before you fill it to avoid delays in the transactions.
1. Simple Quickbooks Direct Deposit Form
As soon as an employee joins the company, this form is issued so the employee fills in the details. This simple template allows the employees to input the account details along with a voided check and all these will be stored by the employer for automated payments.
The bottom part of the template accepts authorized signatures along with the conditions as per US law that every employee should read before signing it.
2. Direct Credit Authorization Form In Word
If you feel that the whole thing is fussy, this template is your solution. It comes in the Word format and states the employees to fill the correct details in it.
This will actually save time and efforts of both – employee and employer.
3. Deposit authorization form for vendors
It is obvious that an organization has to deal with a number of vendors to accomplish the project objectives. During the payment time, direct deposits need to be done for which this template will be of use.
The template is created exclusively for vendors to register and fill the details and issue to the organization associated with for the project. The advantage with this template is it lets a vendor to perform 3 functions – request for a new account addition, alter existing details and cancel the receipt on a specific account. This multifunctional template adds ease to the bookkeeping process in an organization.
4. Deposit form for contractual employees
The laws differ for contractual employees and permanent employees. Accordingly, the template also varies. It can be filled directly and it is essential for the employees to input the contract number for the official record keeping purpose.
The best part about this form is that it has enough information about fraudulent use, return of forms and checklist that will instruct the user even in case of misplacement.
5. Intuit multiple deposit form
In general, a form allows the user to fill only one account detail to avoid confusions in the transfer. However, this Intuit template allows employees to add details of upto 3 bank accounts and this is advantageous to the employees too. In case an account is blocked by the bank, the employer can arrange for direct deposit to another account without any delay.
Note: This form is fillable.
6. Cancel Form
Sometimes, employees use the same template to perform multiple function like addition, updation and cancellation. However, when there are situations to issue separate cancellation form, then this template will be of use. It is crisp and receives all the necessary information from the employee in order to issue cancellation order to the payroll department.
7. Quickbooks account change form
The advantage with using this method is that it keeps the payroll process easier. This account change is meant to add the information of employee and the new bank account details and all these are forwarded to the authorities for approval.
8. Engagement letter for deposit request
Suppose your organize wants to hire a payroll service provider to process the direct deposits, this engagement letter is extremely helpful as it details the services expected along with the fees and terms and conditions during this engagement are also listed. Ensure that your organization uses this standard engagement letter to encourage direct deposits to avoid any human errors in the future.
9. Notice to employees to submit deposit form
When new employees have joined the organization, it is impossible to expect them to have an understanding of this form unless the organization issues a notice and spreads awareness about the same. This form has a separate section about the need for direct deposit and includes a contact detail so employees can clarify their doubts. This form is mandatory to engage more employees to follow the standards of this procedure.
10. Letter to employees with authorization form
Similar to the previous form that highlights the value of direct deposit, this letter encourages the organization to remind the employees about availability of a new option of payment receipt. The best part is that the letter also has a template to add account and authorization form to issue consent towards receipt. As soon as the employees receive it, they do not waste time and directly proceed with filling the information.
How to create direct deposit form on your own?
It takes minimum time to create a template on your own. Remember to include the following fields in your template and it is ready for distribution to the employees.
- Full name
- Social Security Number
- Contact Number
- Employee ID
- Bank Account Number
- Routing Number
- Account Type
- Bank Name
- Account Type
- Consent (Signature)
These forms are widely used by organizations as it automates the transfers with no maintenance charges. Even if there is a holiday, the payment still happens and is easy to use. The direct deposit option increases productivity and enhances rapport between the two parties involved. This effortless finance management is what any organization will need.