Good news! As an employer, you now have more flexibility to schedule direct deposit pay checks.
24 hour direct deposit (DD)
allows you to approve your direct deposit by 5 pm PT and still make payday the next business day, instead of having to approve 2 business days prior to payday as it was with our former process.
Is there a cost for this feature?
24 hour direct deposit is free and included in QuickBooks Full Service Payroll and QuickBooks Online Payroll subscriptions. No added fees, no catch!
How do I know what time to submit payroll?
Easy! When you sign into your account and view your employer homepage on the left-hand navigation menu, you can always find your payroll deadline under the “Run Payroll” button.
Will my employees see anything different?
With 24-hour Direct Deposit, employee funds may post at a different time on payday than employees are used to, but still usually post in the early morning. Don't worry, however, employees will be paid on payday!
I forgot about a holiday during the week! Can 24-hour direct deposit help?
Accounting for holidays when running payroll can often provide additional stress to employers. Thanksgiving is a good example, as it falls on the fourth Thursday of November. An employer who pays their employees every Friday would normally run payroll on Wednesday before 5pm to make a Friday payday. However, since Thursday is a bank holiday, the employer actually has to run payroll by Tuesday on that week to pay employees before the weekend! With 24-hour Direct Deposit that employer can continue to run payroll Wednesday, knowing their employees will be paid Friday.
What happens if I miss the 5PM PT deadline?
Great question! We recommend running your payroll by at least 5pm the day before payday in order for your employees to receive their money on time. Payroll received after 5pm will be processed the next available business day. Of course you always have the option to print checks for your employees if you prefer.