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February 2, 2024
Question

My employer initiations my pay check for Direct Deposit. What is considred the date of it being issued.

  • February 2, 2024
  • 1 reply
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I have a quesition.  My employer inisitated my pay check through quick books on December 28th.  The funds were avialble on the 29th. Although it did not post unitl January 2,  Is not the day the employer initiated the pay check considered the calendar year for that, also since those funds were technically available on December 29th, even though it did not post to my account until January 2nd.  

1 reply

February 2, 2024

Welcome to the Community, Dawn!

 

To provide you with the most accurate assistance, please let me know if you are inquiring about the issued date of the check for your taxes or your reconciliations. Any additional information you can provide about your concern would be greatly appreciated.

 

In the meantime, let me share some helpful information about which dates you should use when doing some financial processes.

 

If your employer initiated the check through QuickBooks on December 28, the payroll would've been processed on that same date. The variations in the dates could be caused by the direct deposit lead time. However, it's best to reach out to your employer to confirm the exact date that the check was issued.

 

In case you were referring to which date you should base your taxes on, the IRS regulations dictate that you should use the paycheck date as the basis for your taxes.

 

On the other hand, if you are currently reconciling your accounts, the date you should use would be when the check has cleared your bank. This is important to ensure that your accounts are accurately balanced and that there are no discrepancies in your records.

 

For future use, here's an article on running reports to view useful info about your business and employees: Run payroll reports.
 

You can return here whenever you need information and my assistance regarding anything QuickBooks-related. I'm always here for you.