Happy to share how scheduled bill payment works in Quickbooks Online, @kate_nikitnik. This way, you can pay your transactions on time.
The timing of when your bill is paid depends on when you plan a bill payment in QuickBooks Online Bill Pay:
- Amount of the payment
- Transaction history
- Banking business days.
When scheduling bills for the first time, the payment timing is four banking days for both mailed checks and ePayments. Once you build up a transaction history, you might be eligible to have payments under $10,000 paid to you more quickly. The accelerated ePayment timing is two banking days.
Let's take the scenario where you schedule a bill for 09/26/2022, before 6 Pm PST, with an 09/30/2022 settlement date. The balance will only change after the payment is made. See the sample calendar below for your reference:
For additional information, check out this article: Understanding payment schedules in Online Bill Pay.
When everything is clear on your end, you can now schedule your bills whenever you're ready. Then, don't forget to categorize the bill payment.
For more understanding about Online Bill Pay and Bill.com app features, check out the following links below:
If you need more explanation or instructions, don't hesitate to mention my name in the comment section. I'll do my best to answer every question you have about bills. I'll see you again soon.