How can you do a same day payroll for contractors?

I have the information you need, dispatch-jrdtran.

In QuickBooks Online, we have the following funding times for direct deposit:

• Same-day: Workers are paid the same day you send your payroll to us.
• Next-day: Workers are paid the next banking day after you send your payroll to us.
• 2-day: Workers are paid two banking days after you send your payroll to us.
• 5-day: Workers are paid five banking days after you send your payroll to us.

To send a request for changing the direct deposit funding time, you can open this article: View or change your direct deposit funding time. Then, go to the How do I get a faster funding time? section.

Once you have the same day deposit approved, you can pay your contractors with direct deposit. Here's an article for more information: Pay a contractor with direct deposit.

I'm just a few clicks away if you have more questions about the contractor's direct deposit or other concerns. Take care and stay safe.

My Payroll settings are on "Same day" but at best contractors get money next day; with at least one or two getting money in 2 days. 

Please advise.

Thanks for joining this thread, dispatch-jrdtran.

Even though you set the payroll schedule for the same-day process, please know that the processing still considers the bank working hours which includes weekends and federal holidays. This can be the reason why some contractors get the money on the next day or in two days.

Here's an article that will help you identify Federal Banking Holidays and when to process payroll. 

Learn more about the one-day payroll process in QuickBooks Online through this article:

• QuickBooks Payroll rolls out enhancements to One-Day Direct Deposit.
• One-Day Processing Now Available for QuickBooks Payroll.

You can also run payroll reports in QBO to get a closer look at your business's finances.

If you encounter an issue when submitting a direct deposit, you check this article for solutions: Resolve Direct Deposit Issues.

Please let me know if you have other concerns. I'm just around to help. Take care always.

Quickbooks Payroll seemingly only permits same day direct deposit for employees. See the following excerpt from https://quickbooks.intuit.com/payroll/premium/#disclaimers:

"4. Same-day direct deposit: Available to QuickBooks Online Payroll Premium and Elite users. Payroll processed before 7AM PST shall arrive the same business day (excluding weekends and holidays). Requires setup of direct deposit and bank verification. Same-Day direct deposit may be subject to eligibility criteria. Deposit delays may vary because of third party delays, risk reviews, or issues beyond Intuit’s control. Same-Day Deposit available only for employees."