Impound overview

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Change to CS Support service hours

Our Support department is closed on Friday, April 28th for a company event. However, limited Accounting CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline for quarterly payroll tax forms.

Links to our most popular payroll tax processing topics are available in the Alerts and notices section on the right side of most pages.

For live payroll processing only

In Accounting CS, you can set up impound accounts in which you deposit funds collected from your client's bank account for the purpose of making payments on their behalf. When the client's payments are due, your firm makes the payments using the funds in this holding account. You can use impounding for payroll, tax payments, payroll deduction payments, and fee collection.

See also: Live payroll processing workflow with impounding

Before you can use the impound feature, there are a number of setup and processing steps that you must complete. We recommend that you complete them in the order listed below.

Setup procedures

Firm setup

Setting up banks for the firm

Setting up firm impound bank accounts

Client setup

Setting up client-level impound information

Setting up client bank accounts

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Processing procedures

Funding payroll transactions

Funding tax agent or payroll agent transactions

Funding firm vendor transactions

Reconciling impound bank accounts

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Related topics

Processing billing impound ACH files using InterceptEFT

Disclaimer: InterceptEFT is an unaffiliated third party that some of our customers have engaged to provide direct deposit, tax payments, ACH processing, or credit card merchant services.

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