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octoberfermen
September 27, 2023
Question

To insure a payroll direct deposit "lands" on the 28th of the month, how soon must I run Payroll?

  • September 27, 2023
  • 1 reply
  • 0 views
I ran payroll on the 27th last two months, and Direct deposits were made on the 29th.  Our staff needs to count on getting their funds on the 28th.  

1 reply

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Carneil_C
September 27, 2023

Hi there. Let me explain when and how to submit your direct deposit payroll in QuickBooks Online.

 

The number of days on which you need to send your direct deposit so you can pay your staff on time depends on your direct deposit funding time. Here's how to see your funding time:

 

  1. Go to Settings, then select Payroll settings.
  2. Scroll to the Direct Deposit section.
  3. From there, you can see your funding time above your direct deposit limits.

 

You can enjoy the same-day funding time, where workers are paid the same day you send your payroll to us. Otherwise, you may also have one of the following funding times:

 

  • 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: They're paid five banking days after you send your payroll to us.

 

For more insights on how to update your direct deposit funding time and to know more about when to submit or approve your payroll, here's an article you can read through: View or change your direct deposit funding time.

 

Also, please ensure we have enough funds in your account to cover the payroll on the day it’s submitted. Also, Intuit is unable to process your payroll on weekends or state or federal holidays. 

 

Once you're ready to submit your payroll, you can see this article for your reference: Set up direct deposits for employees.

 

Please let me know if you have any questions about payroll. We'd like to ensure this is resolved for you. Keep safe always.

O
octoberfermenAuthor
October 2, 2023

In Alaska, all credit unions are open on Saturday.  is that a "Banking day?"  If I run Payroll on Friday before Noon, will the money appear in the recipient's account on Saturday, if we are set up for Next Day direct deposits? 

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MadelynC
October 2, 2023

Thanks for getting back to the Community, @octoberfermen. I’m here to discuss with you how direct deposits are processed.


Weekends are generally non-business days for banks. Payments received on weekends are basically processed on the next business day, Monday, unless it's a federal holiday. Please know that QuickBooks direct deposits are processed only on banking days.


Since you mentioned that all credit unions in Alaska are open on Saturday, you can reach out to your financial institution to verify it. QuickBooks is compliant with every party involved in the payment process. If they cater transactions, then your recipient will receive the amount on Saturday.


You can read this article to learn more about funding time and when to operate your payroll to pay your employees on time: When to send your direct deposit payroll.


I’m adding these resources to learn how to request a direct deposit limit increase and a way to get your money back in case you accidentally paid someone:

 


We’ll be here anytime to assist you if you have more questions or concerns with direct deposit. Just add them to your reply below.

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