Dec 24, 2021 Direct Deposit

Hello, DMAC2.

The direct deposit for QBDT Payroll has a 2-day lead time where you're advised to submit payroll two business days (5:00 PM PST) preceding payday. If payday falls on a holiday, lodge payroll one business day earlier than you usually do. This is because money will be drawn from your account before regular banking hours the next business day. 

Also, I've checked based on the declared holidays from Federal Reserve System for this year, December 24th isn't on the list. Check out this link: https://www.federalreserve.gov/aboutthefed/k8.htm.  

Additionally, to learn more about how to ensure your employees get paid on time when there’s a holiday, I suggest checking out this article: How do federal holidays affect my direct deposit? 

For future reference, read through this article to help you learn about how to file your payroll forms electronically within QuickBooks: Set up your Federal Forms for e-filings in QuickBooks Desktop (QBDT). 

Please know you can continue to reach me here with any additional questions. Thanks for coming to the Community, wishing you continued success. Stay safe!

Yes as an accountant, I am aware of all that. QuickBooks sent the following message to all direct deposit accounts:

"How will Christmas Day(observed Fri Dec 24, 21) affect my direct deposit?

QuickBooks payroll will not process direct deposits on Fri Dec 24,2021 due to the Federal Reserve Banks observance of the Christmas Day Holiday

In order for your direct deposit employees to receive their paychecks by 12/24/21 you should:

1. Change your paycheck date to Thu 12/23

2. Send your payroll by 5pm PT on Tue 12/21"

Dec 24,2021 is NOT a Fed Reserve observed holiday so why is QuickBooks not processing direct deposit on this day?

Hi DMAC2,

Let me share more details about the notification you received.

The Board of Governors will be closed on the 24th, as stated at the bottom of the article that Ailene shared. Another reason is that the bank holiday is observed on the 24th. That's why we recommend pushing back your payroll on the 23rd.

If you have any other questions, feel free to go back to this thread. Take care always.

You state, "the bank holiday is observed on the 24th", but that is incorrect.

According to https://www.federalreserve.gov/aboutthefed/k8.htm 

"For holidays falling on Saturday, Federal Reserve Banks and Branches will be OPEN the preceding Friday" (emphasis mine)

This one sentence, directly from the federal reserve, contradicts what you've said, and the guidance QB has sent out previously, as quoted above.  

This info from the FRB has been available for weeks on their website, BTW-- I know this because I went a couple weeks ago and printed their table for our bulletin board.

Has this been officially resolved?  I'm still confused whether direct deposits will go through on Dec. 24th or not?  I keep getting conflicting answers!  I even called QB support and I am still unsure. 

I sent my payroll without changing the date to the 23rd.  Do I risk payroll checks not being direct deposited into my employees accounts? 

Let me provide some information about sending Direct Deposit, essantillana. 

The direct deposit has a 2-day lead time where we advised our customers to submit payroll two business days (5:00 PM PST) preceding payday. If payday falls on a holiday, we recommend lodging payroll one business day earlier than you usually do. This will be drawn from your account before regular banking hours the next business day. Also, the bank holiday is observed on the 24th, that's why we recommend pushing back your payroll on the 23rd.

To learn more about how to ensure your employees get paid on time when there’s a holiday, see How do federal holidays affect my direct deposit article. Here are the steps we can perform to check your direct deposit status in QuickBooks Online Payroll (QBOP):

1. Go to the Employees menu and select View Payroll Run Status.
2. In the Recent payrolls section, choose a payroll.
3. Tap the View Payroll Run Status drop-down and then Selected payroll. You'll see the status of the paycheck on the Payroll status window.
   • Sent to Intuit. We received your payroll and we're processing it.
   • Sent to Bank. We sent the debit request to your bank account. Your employees will get their direct deposit the next business day.
   • Payroll processed. We debited your account and sent the payroll to your employees' banks.

To further help you verify the status, you can always contact our Payroll Support Team. They'll pull up your account in a secure environment and help you with this one. You may send a message via chat, call us at a time convenient to you, or we’ll get in touch with you instead. To ensure we address your concern, our representatives are available from 6:00 AM to 6:00 PM on weekdays and 6:00 AM - 3:00 PM on Saturdays, PST. See our support hours and types for more details about this one.

Feel free to visit our Payroll page for more insight about managing your payroll transactions in QuickBooks. 

If you need to take care of other things in QuickBooks, I'm with you every step of the way. Just leave a comment below and I'll get back to you. Take care always.

If you read the Federal Reserve Board's website, THERE IS NO BANK HOLIDAY ON FRIDAY, DECEMBER 24, 2021.  This info has been on their website all year.  It's freely available.  In fact, I'm looking at it right now, it's a table that shows the federal banking holidays for 2021, 2022, 2023, 2024 and 2025.  You can't tell me that this Friday, December 24, 2021, is a bank holiday and that direct deposits won't be allowed on that day.  Because it's not a bank holiday, according to the people in charge of the US banking system.  

If Intuit decided not to allow direct deposit for December 24, because Intuit's specific bank won't be open, then just say so.

You don't seem to be understanding what we're saying here.  We're saying, you sent us a message that said that no direct deposits would be processed for payday on December 24, 2021.  But you didn't change the scheduled run date in QB, as normally happens when a bank holiday or weekend interferes with our normally scheduled pay day.  Then the original message as sent to us disappeared from our messages in QB.  There has been a lot of unnecessary confusion.