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M
misty23
June 20, 2022
Question

We have next day funding with QBO payroll, but how do I finalize it to the bank faster? Some banks release 1 day before payday. If the bank allows how do I get it there?

  • June 20, 2022
  • 1 reply
  • 0 views
Some bank allow 1-2 days posting before payroll date. As long as they have the data. Like Chime. But our employees aren't seeing it early. Is it because QBO gives me until the day before payroll to submit? It doesn't get to the bank until 5pm the day before, I would like to have this sent to the bank earlier for our employees to have this option (If their bank does this, not all do)

1 reply

K
Kevin_C
June 20, 2022

I appreciate you for sharing in-depth details of your payroll concern, @misty23.

 

Let me provide some information about the funding time in QuickBooks Online (QBO) Payroll.

 

Yes, you're right that QBO will give you until 5:00 PM PST in the day to submit your payroll. Since the bank already claimed they could post it earlier, you'll want to apply for our same-day deposit instead so it will be posted earlier. Also, please note that this is exclusive to QBO Payroll Premium or Elite.

 

You can submit your request online. You'll need to provide 6 months of your most recent bank statements and upload them with your request. Once done, our team will contact you once your information has been reviewed. For more details, please check out this article to update your direct deposit funding time in QuickBooks.

 

In addition, you can also pull up a variety of payroll reports in QuickBooks. This will give you a closer look at your employees' total wages, deductions, and tax information in a certain period. Kindly refer to this article: Run payroll reports in QuickBooks Online Payroll.

 

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. Take care!

M
misty23Author
June 21, 2022

Thank you for your reply. Same day and next day funding appear to do the same thing. If I'm running payroll 2, 3 or 4 days before the pay date, it's still not sending the data to the bank until the day before at 5pm. I've been running payroll on Mondays with pay day on Fridays, it still gives me the option to edit the time card until 5pm on Thursday which leads me to believe that it's not sending to the bank until this day. How would same day fix this?

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