Paydate January 1, 2021

Hello there, @Taxwright.

Allow me to share more details about how the federal holidays affect your direct deposit.

You've mentioned that the proper reporting should be on December 30, 2020, by check date. If hours are worked in 2019 and paid in 2019, the paychecks belong in the 2019 payroll. If the hours are in 2019, but paid in 2020, the paychecks belong in the 2020 payroll.

That being said, you'll have to submit payroll one business day earlier than you normally would. The money will be drawn from your account before regular banking hours the next business day.

Based on your scenario, you'll have to approve paychecks on Tuesday December 29. Your account will be debited on Wednesday December 30. And your employees will see the money on Thursday December 31.

Please take note that these services have a 2-day lead time. You'll have to submit the payroll by 5:00 P.M. PST 2 business days prior to payday.

If you need further assistance in managing your payroll, you may speak to one of our live agents from the Intuit Online Payroll Support Team.

I've added this article for your reference about the holidays and payroll: How do federal holidays affect my direct deposit?

You may review this article for your future task about the payroll process: Common year-end questions and answers.

I'll be here if you have other questions about Intuit Online Payroll. Take care always and stay safe!

I have the same question, pleaser clarify.

The payroll is on 01/01/2021 and when will the employee receive their direct deposit? on 01/04/2021?

We have a budget for 2020 and it will be over the approved amount if this payroll is issued 12/31/20.

I have the same question, please clarify.

My payroll is 01/01/2021, when will my employees receive there direct deposit? 01/04/2021

I am unable to process on 12/31/2020 because we will be over our approved budget for 2020.

Hi there @WTCC1819,

I’d be happy to clarify the deposit times for you.  You indicated that the paycheck date is 01/01/2021. New Year’s day is a Federal Reserve Bank holiday, so most banks are closed which means Direct Deposit funds don’t move. Since 01/01/2021 is a Friday, and money also doesn’t move on weekends, the next business bank day is Monday, 01/04/2021.

You do have the option of creating paper checks for this payroll which could be dated 01/01/2021 but distributed prior. To change the Pay Method follow these steps:

For Intuit Online Payroll-

1. From the Payday tab.
2. Select the Check Details icon by the employee's name.
3. Uncheck Use direct deposit.
4. Enter the employee's paycheck information.
5. Create.

Here is a link with steps for other payroll products: Turn off Direct Deposit

If you decide to process paper checks for this payroll, once you have created and printed the paychecks, you will want to change the Pay Method back to Direct Deposit.

Let me know if you have any additional questions about the payday or anything else. I’m happy to help anytime.

If we change to paper checks instead of direct deposit and they are dated 1/1/2021 won't we be giving them a post dated check and they won't be able to get their money anyways?  I am lost on what to do here because they get paid every other friday and this one is 1/1/21.  I don't want their income to be more due to changing the date to wednesday instead and don't want them to go without their money until the 4th.

I use Intuit Enhanced Payroll in QB Desktop. I want to keep the payday of 1-1-21 and understand direct deposit won't be funded till Monday the 4th. I gave EE's the option of getting a live check instead of DD. What I'm concerned about is that Intuit has entered a paydate of 12/31/20 in my scheduled payroll. If I run an Unscheduled Payroll and date it 1/1/21 or perhaps 1/4/21 if that won't work will I be all set? What happens to the Scheduled Payroll? Can I ignore it?

Hi there, JMC3.

I can share some information about how payroll dates work in the program

Please take note that the date of your scheduled payroll is determined by the schedule type you've selected. Although, you have the discretion to change or ignore this date if you want to keep the payday of January 1, 2021.

To ensure that your employees will receive their pay in January, you can temporarily deactivate your scheduled payroll then run an unscheduled payroll for that date. Here's how:

1. Select Employees from the top menu bar.
2. Go to Employee Center.
3. Under the Create Paychecks table, choose the payroll schedule you want to update.
4. From the Payroll Schedules drop-down menu, select Edit Schedule.
5. Tick the Schedule is inactive checkbox, then click OK to confirm the changes.

Once everything is set, you can just reactivate this schedule by removing the checkmark from the Schedule is inactive checkbox.

I've also included an article that will help you manage payroll and keep track of employee expenses: Customize payroll reports.

Feel welcome to reach out to me again with any concerns or payroll-related questions you may have. Have a wonderful holiday.