I am processing payroll using direct deposit for the very first time next week, so I have not encountered this before:
There was a message about having to send payroll by Tuesday 11/10/20 if we want our employees with Direct Deposit to be paid on Friday 11/13/20. The problem for us, which is very unlike most employers, is that we usually run payroll on Wednesdays, and it is for work days of the previous 7 days. So next week we would normally process payroll on Wednesday 11/11/20 for work week Wednesday 11/04/20 thru Tuesday 11/10/20. The problem with that is that we won't be able to process our payroll on Tuesday the 10th if we don't know our employees' hours until Tuesday the 10th at the end of the day. (Most employers pay for hours through the previous Friday giving them a 2 day cushion.)
What are my options? Just run paper checks instead?
Thanks for dropping by the Community, I'm happy to help you out. You can request a direct deposit reversal 5 business days from the pay date, also it's important to note that there's a $75 charge with a reversal request, even if you don't get the money back. I would recommend checking out this article for all the details about reversing a direct deposit. It mentions when you can request a reversal, How to make one, what to expect next and much more. Here are the actual steps for the process: