Reverse Direct Deposit to Avoid Overpaid Issue in QuickBooks

Reverse Direct Deposit to Avoid Overpaid Issue in QuickBooks

Direct Deposit method recently introduced within QuickBooks allows the user to transfer salaries and other incentives of the employees directly into their account rendering need of paper checks futile, thus saving time and effort of the employee to go and en-cash or deposit the check in the bank. The whole process of Direct Deposit facilitates automatic transfer of salary streamlining the whole payment of salary activity. However, even with it being completely automatic there are times when user inputs wrong details in the initial setup.

One of the issues faced when the user by mistake overpays the employee. This could take place when the user by mistake put in extra hours worked by the employee like 90 hours for an employee instead of 60. One option for the user is to remedy the problem by adjusting the hours through next process of performing payroll task or follow the steps detailed by the technical experts of QuickBooks housed by Intuit.     

The process of voiding the payroll process and check can only take place if the user has not forwarded payroll information to Intuit for completion of Payroll and filing of payroll taxes. However, what if the whole process is completed and money is already transferred into the account of the employee. In this case stopping the process by voiding it is not possible. The best possible scenario here is to reverse the transaction.

Overpaying or processing direct deposit twice for a single employee is quite possible requiring reverse of transaction process to take place. This option is generally not met with approval from support team of the Company Intuit and QuickBooks. It is generally advised to garner the overpaid amount back from the employee itself even if they have left the company. In such case user is further recommended to get in touch with the QuickBooks experts so that they can start the process of voiding the Direct Deposit paycheck from the system. In this scenario, experts can’t really delete the paycheck so they enter a negative entry into the system which rationalizes the whole process. In case user is still interested in marking the paycheck and starting the system of reversal then they require to meet all the eligibility criteria set below:

    • User has to agree for a reversal fee of $75.00.
    • From the date of transfer of funds into the employee account only 5 days of less have passed.
    • User has no other option of getting the funds back from the employee as the employee is not cooperating with the user to return the overpaid fund amount.

The above eligibility criteria if met will start the process of reversing the direct deposit transaction immediately. If the user requires any more information they can directly contact the customer support team setup by Intuit.

 

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