It helps to think this question through starting at the end, in steps.
Quickbooks expects you to submit your direct deposit no later than 5 PM Pacific Standard Time (8 PM EST) on Business Day 1. Quickbooks will then take the funds out of the business' bank account on Business Day 2. Finally, Quickbooks will deposit the funds into the employees' bank account(s) on Business Day 3.
In this case, you want your employees to be paid on 7/5/2023. This is 'Business Day 3'.
'Business Day 2', then, will be the first business day prior to 7/5/2023. Given the fourth of July, this is 7/3/2023. The money will be drafted from the business on this day.
So, 'Business Day 1' is the first business day prior to 7/3/2023, or Monday. Since weekends are not business days, that means Friday, 6/30/2023. As long as you can tally your hours before 5 PM PST (8 PM EST) on Friday, 6/30/2023, you can schedule the direct deposit for 7/5/2023. Certain timezones aside, that should be plenty of time.
