I always do payroll on sunday nights by 7pm ( i can do it sooner if need) due to my other job work schedule. Will everything post from our account and the employee accounts by the wednesday after.?
Example: Payroll check date 12/16/18 will it be withdrawn from our bank on 12/19/2018 and deposit into the employee bank on 12/19/2018?
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 If you processed on Sunday, December 16th and dated the checks for direct deposit on December 20th the money will be withdrawn from your account on December 19th and deposited into the employees accounts on December 20th.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.
What if i date the check for employee deposit on the 19th will it come out of our account the 17th and deposit to thier account on the 19th
My employees are used to getting the checks by tuesday/ wednesday
Hi there, @chzshop.
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 The amount will be withdrawn from the bank on December 18th (Tuesday) since the counting starts on Monday due to non-banking days.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.
To know more, please refer to the following articles:
• Send payroll and direct deposit paychecks in QuickBooks Desktop Payroll.
• When do direct deposit post?
This information should be able to answer your questions. And of course, hit the Reply button below if you need anything else. I’ll be always here to help. Wishing you the best!