If a Federal Reserve statutory holiday falls on a scheduled payday, or one or two days following a scheduled payday, you may need to adjust your pay cheque date or send in your payroll earlier than you would otherwise.
For example, if the cheque date is Tuesday and Monday is a holiday, send your pay cheques by:
- QuickBooks Online Payroll — the preceding Thursday before 8 pm ET. (The time stamp can't be later than 7:59 pm ET) The debit occurs on Friday.
- QuickBooks Online Advanced Payroll — the preceding Wednesday before 12:00 pm ET. (The time stamp can't be later than 11:59 am ET) The debit occurs on Friday.
If a payday falls on a banking holiday, the following information will help determine what will happen with your normal payroll dates:
- If no changes are made to your payroll, direct deposit pay cheques will be posted on the first business day after a statutory holiday.
- If you want to pay employees before the holiday, adjust the pay cheque date accordingly. You'll also need to adjust your submission date to allow for the two business days needed to process payroll and direct deposits. (Holidays are not considered business days.) If your date change includes the leap year day, February 29, verify your computer/operating/calendar system recognizes the date.