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ProdMgrIFSLLC
Level 1

My last payday of the year is on Christmas. If I process my payroll on Mon 12/23 can I get QBO to pay my employee's on 12/24?

 
1 Comment 1
CarlSJ
QuickBooks Team

My last payday of the year is on Christmas. If I process my payroll on Mon 12/23 can I get QBO to pay my employee's on 12/24?

Accurate payday management is essential for maintaining a positive and productive work environment among employees, @ProdMgrIFSLLC. I'd be more than happy to offer my expertise and guide you through this.

 

To enable this efficient payroll process, your employees need to establish a direct deposit payment method. This setup allows their earnings to be automatically transferred into their bank accounts, providing a convenient and secure way to receive their wages. Additionally, it's important to ensure that the direct deposit funding time is configured for next-day or 1-day lead time.

 

In the meantime, let's check your direct deposit funding time within QBO:

 

  1. Sign in to your QBO account.
  2. Go to the Settings icon and select Payroll Settings.

    Payroll-Settings.png

  3. Scroll down to the Direct Deposit section, then click the Edit icon.
  4. If you have the option for the Next-day or 1-day lead time, let's enable it.
  5. Click Save and Done.

 

If you're eligible for the next-day or 1-day lead time for direct deposit, it's crucial to process your payroll by 5:00 PM PT on December 23. By meeting this deadline, your employees will surely receive their pay on December 24.

 

For more information about the direct deposit funding time or if you want to change your funding time, please refer to this reference: When to send your direct deposit payroll.

 

If you're looking for a convenient way to review your payroll totals, including details on employee taxes and contributions, you can easily generate a Payroll Summary report in QuickBooks. This report allows you to select any date range or specific group of employees, providing you with a comprehensive overview of your payroll data. 

 

Timely and precise payroll not only ensures that employees receive their hard-earned wages on schedule, but also fosters trust and satisfaction within the workforce. If you require further assistance managing payroll, I'll be around to lend a hand.

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