Direct Deposit Forms are legal documents that allow an employer to directly pay the salaries to his employees. The only thing the employee has to decide is in which account of their they would want the money to be deposited.
With the help of this new feature in Quickbook employers are now choosing to pay their employees directly.
Download Quickbooks Direct Deposit Form
1. Employee Direct Deposit Form
This is an Employee Direct Deposit Form where the Employee has to fill up some of his basic details and his bank details too like on would with a credit card authorization form.
The employee needs to submit this form back to his employer who will then be able to deposit the amount to the employee’s desired account.
Along with the filled form the employee might also have to submit one of his blank canceled cheques to the employer.
This is a professionally designed template that is commonly used by corporates. The file format is PDF but you can use this template as a guide while designing your own Direct Deposit forms.
In recent times Direct Deposit mood is gaining a lot of popularity as it is one of the most easiest and flexible processes. Unlike earlier one need not have to wait to see if the transaction they need was actually successful.
There are different kinds of Direct Deposit forms that can be used by an Employer and below you will find some more of such different templates for your reference like these pdf fake bank statement.
2. Multiple Account Direct Deposit Form
This is yet another Basic Direct Deposit Form and one of the simplest too. Here the employee has to fill in his account number and type of account where he wishes his money to be deposited.
The employee also needs to put his signature on the firm thus giving his consent that the employer can deposit the funds to his preferred account.
In this Direct Deposit template, there is a provision to enter multiple bank account details. If the employee wants the payment to be split between two accounts then this form can be used by the company.
3. Account Holder Direct Deposit Form
The Authorization Account Holder Direct Deposit Form is the shortest form available. Apart from filling up the basic information, the employee will also have to fill up the ABA number which is basically the 9 digits number on the bottom left of the cheque.
Here also the employee has to submit one canceled cheque of the same account where he wishes the amount to be deposited.
4. Electronic Direct Deposit Form
The Electronic Direct Deposit form is a block Form where the employee has to fill in the minimum information for the funds to be deposited. However, since all the payments are connected to the tax it’s always advisable that while filling up such forms the employee keeps in mind the necessary details that might affect his / her taxes.
These formats are usually used in an electronic format. This means that you can fill the form and send it across to the organization in an email or through fax.
5. Vendor Direct Deposit Form
The Vendor Direct Deposit Form technically has four key placeholders such as the type of Deposit, the Vendor / Payee information, the Financial Institution Information, and finally the employee’s authorized signature.
Apart from this the employee’s bank account details and other basic details are also required.
6. Detailed Direct Deposit Form
With the Detailed Direct Deposit Form, the employee has to fill in a lot of his details in this form.
Here the employee has to fill in two important sections such as the Federal Government Benefit Compensation and Payroll Compensation. It is one of the most lengthiest and detailed formats present.
7. One Page Direct Deposit Form
Managing the payroll of a huge number of employees needs a lot of expertise and these kinds of One-page Direct Deposit Forms are the most essential formats in such cases.
Here the employee has to fill in all his details which makes it easier for the employer to keep track.
8. Tabular Direct Deposit Form
The Tabular Direct Deposit Form is also used for Employee payroll and is neatly divided into different sections. Here the employee has an option to choose different kinds of Bank Accounts at his convenience. The Employer only has to deposit the amount in his choice of an account without any hassles.
Payments can easily be split into different bank accounts as this form has a provision to enter multiple bank account details. If you don’t need them you can remove them from your template.
Frequently Asked Questions
1. Why should one fill up the last paragraph in the Direct deposit Form?
The last paragraph is very important as it allows the employee to put his signature on the form which in term indicates that he/she has no objection to the employer paying the amount to their desired account and that all the information given in the form are true to their knowledge.
2. What details need to be filled into a Direct Deposit Form?
While filling up a Direct Deposit Form one has to provide some of their personal and bank account details such as
- Account number
- Account holder’s name
- Bank details
- Type of account
- Amount to be deposit
- Date of transaction
So, did you find our collection of Direct Deposit templates useful? Direct deposit forms are a fading process but they are still used all over the world. If you are working with an organization that still employs the use of such forms then you will find out templates very useful.
Or you could be an organization looking for handy Direct Deposit templates to design your own. Either way, you can use our collection as guidelines in making your own amazing templates! Before you go, check out these police report templates!