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hello158
Level 1

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

 
8 Comments 8
MadelynC
QuickBooks Team

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

I’ve got the information you need so you can make your funding time faster, @hello158.


With QuickBooks Online Payroll, some companies are on a 5-day funding time to ensure their direct deposits are safe. This is to protect you from fraud and ensures you have the proper amount of money to move out of your account.


The Five-day funding means you’ll want to submit your payroll before 5:00 PM PST in 5 business days prior to payday. So the money will draw from your account that day, and employees will see their pay on payday.


In order to get faster funding time, you’ll want to submit a request online. You'll need to provide 6 months of your most recent bank statements then upload them with your request. Once done, our team will contact you once your information has been reviewed. Check out this article to update your direct deposit funding time in QuickBooks.


I’ll be here anytime if you have additional payroll concerns. Just press the Reply button below, and I’ll get back to you as soon as I can. Have a good one and keep safe.

tipsen
Level 1

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

I received the message regarding being placed on the 5-day Funding model for payroll, after connecting my Quickbooks Online account to my bank. I only signed up for e-Services to make filing/paying of federal payroll taxes easier.

I am the ONLY employee of my consultancy, and I run payroll twice a month (15th and last day). I bill different rates to different clients, and I calculate the amount I will be paid on the day of payroll (the number of billable hours varies greatly from pay period to pay period), and cut myself a check.

How does the 5-day Funding model affect me? If I don't want to be subject to it, can I just un-subscribe from e-Services/Direct Deposit and just go back to manually paying my Federal payroll taxes?

 

tipsen
Level 1

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

I received the message regarding being placed on the 5-day Funding model for payroll, after connecting my Quickbooks Online account to my bank. I only signed up for e-Services to make filing/paying of federal payroll taxes easier.

I am the ONLY employee of my consultancy, and I run payroll twice a month (15th and last day). I bill different rates to different clients, and I calculate the amount I will be paid on the day of payroll (the number of billable hours varies greatly from pay period to pay period), and cut myself a check.

How does the 5-day Funding model affect me? If I don't want to be subject to it, can I just un-subscribe from e-Services/Direct Deposit and just go back to manually paying my Federal payroll taxes?

 

SarahannC
Moderator

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

Hello there, tipsen.

 

The reason why you're on a 5-day funding time is to ensure your direct deposits are safe. You'll need to submit your payroll before 5:00 PM PST 5 business days prior to payday. Still, you can request faster funding than this. To learn more about it, check this article: Why am I on a 5-day funding time?

 

And, yes, you can unsubscribe from e-Services/Direct Deposit. If you're using QuickBooks Online Payroll Enhanced, here's how to do it:

 

  1. Go to the Gear icon.
  2. Select Payroll Settings.
  3. Click E-file and e-pay. Then, select Manually with paper coupons.
  4. Then, Next.

 

On the other hand, if you're using Core or other Full-service versions, check here to learn more. Once turned off, you can then manually pay your payroll taxes. 

 

 If you want to run payroll reports soon, you can check this article for an additional guide: List of payroll reports.

 

Visit again if you have other questions. The Community is always here whenever you need assistance. Take care always.

tipsen
Level 1

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

Thanks for your reply. The point is that I *DO NOT WANT* to use Direct Deposit for payroll. I can simply cut a manual check to myself (again, I am the only paid employee.)

I only want to use e-Services for the tax payment features.

Can I still do my payroll  the "old" way, where I calculate my hours due on payday (the last day of the pay period), submit the payroll in Quickbooks, and then cut myself a manual check? Or do I need to completely unsubscribe from e-Services, and thus also lose the automatic tax payment features? 

AileneA
QuickBooks Team

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

Hello, tipsen. 

 

Thank you for reaching back to the Community. Yes, then you'll need to create a paycheck through the payroll system in QuickBooks to show the liabilities and forms in the taxes tab, and you'll still able to use the e-services.

 

You can check out these articles that will help with set up and creating paycheck in QuickBooks: 

 

 

As always you can reach out to our customer support team, they have the tools to securely check your account and help you inactivate your e-services. 

 

Please know that I'm just a post away if you have any other concerns in QuickBooks. I'm always here to help you out. Stay safe!

tipsen
Level 1

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

AileneA,

 

Thank you for your prompt reply. I don't think my basic question has been answered yet.

 

What I want to do:

1) Use e-Services to pay federal taxes automatically.

2) Run payroll on the SAME DAY that I cut a PAPER check for it, and NOT use Direct Deposit.

3) Avoid having to submit my payroll 5 days before I cut a paper payroll check.

 

Is this possible?

 

 

Joesem M
QuickBooks Team

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

 Hi there, @tipsen.

 

Allow me to chime in and share additional information about the funding time in QuickBooks.

 

Yes, it's possible to do this in QuickBooks. For your first question make sure to turn on the electronic service so you can pay your taxes automatically.

 

For the second and third questions, you can change the payment method of your employee to a paper check. Then create a paycheck on the pay date period.

 

To change the payment method to a paper check, here's how:

 

  1. Go to Payroll Employees Run payroll.
  2. Select the Pay Schedule.
  3. On the Run Payroll page, put a checkmark on the employees you want to pay.
  4. From the Pay Method column, click the Direct Deposit link and select Paper check.
  5. Follow the on-screen instructions to finish payroll.

 

For reference, you can check this article: Create pay checks in online payroll.

 

You may also visit these links that I've attached for more details about creating and printing paper checks: 

 

 

Please know that my doors are always open to help if you have any other concerns. Just visit me here. Take care!

 

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