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February 4, 2021
Question

My payroll is on 5-day funding, but it says I am supposed to submit payroll before the pay period is even up. This is impossible. Is there a way to make it faster?

  • February 4, 2021
  • 1 reply
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1 reply

February 4, 2021

I’ve got the information you need so you can make your funding time faster, @hello158.


With QuickBooks Online Payroll, some companies are on a 5-day funding time to ensure their direct deposits are safe. This is to protect you from fraud and ensures you have the proper amount of money to move out of your account.


The Five-day funding means you’ll want to submit your payroll before 5:00 PM PST in 5 business days prior to payday. So the money will draw from your account that day, and employees will see their pay on payday.


In order to get faster funding time, you’ll want to submit a request online. You'll need to provide 6 months of your most recent bank statements then upload them with your request. Once done, our team will contact you once your information has been reviewed. Check out this article to update your direct deposit funding time in QuickBooks.


I’ll be here anytime if you have additional payroll concerns. Just press the Reply button below, and I’ll get back to you as soon as I can. Have a good one and keep safe.

February 27, 2021

I received the message regarding being placed on the 5-day Funding model for payroll, after connecting my Quickbooks Online account to my bank. I only signed up for e-Services to make filing/paying of federal payroll taxes easier.

I am the ONLY employee of my consultancy, and I run payroll twice a month (15th and last day). I bill different rates to different clients, and I calculate the amount I will be paid on the day of payroll (the number of billable hours varies greatly from pay period to pay period), and cut myself a check.

How does the 5-day Funding model affect me? If I don't want to be subject to it, can I just un-subscribe from e-Services/Direct Deposit and just go back to manually paying my Federal payroll taxes?