Paychecks should be dated for the day you want the money to post into your employees accounts. QuickBooks will withdrawal the money from the employer account the day before the pay date. If you processed on Sunday, December 16th and dated the checks for direct deposit on December 20th the money will be withdrawn from your account on December 19th and deposited into the employees accounts on December 20th. The deadline for direct deposit processing in the eastern time zone is 8 pm two days prior to the pay date.
Allow me to join the conversation. I can give you information about when direct deposit (DD) payroll posts on the employees' bank account.
With QuickBooks Desktop payroll, DD is made available to the receiving bank as of 5 pm PT on the paycheck date as long as it was transmitted 2 banking days prior.
Since you’re sending direct deposit on Sunday (December 16th) at 7 pm, your employees will receive their pay on Wednesday (December 19th). The amount will be withdrawn from the bank on December 18th (Tuesday) since the counting starts on Monday due to non-banking days.
It’s best to consider the paycheck date when processing employees’ payroll. This helps guarantee that they’ll get paid on the exact day.