Important Aspect of Intuit QuickBooks Payroll Processing Time
Are you trying get answers for some questions and doubts about the QuickBooks Payroll Processing Time? If yes, then you’ve landed on the right place. Now you don’t need to go anywhere else. In this article, we’ll be discussing about the basic concept of payroll processing time in QuickBooks. We will try to clear all your confusions and doubts that the users have and also some of the beneficial solutions which might be helpful for you.
What is Payroll Processing
In simple language, Payroll Processing is a task that a user performs for gathering their payroll information like gathering employee time information for a selected time period, managing benefits & deductions, and distributing employee pay for that time period. The time for Payroll processing actually starts at 5:00 P.M. Pacific Time, which is around 2 business days in advance of paycheck due date.
Read the below mentioned steps in order get an explained idea about the 2 business days
- 2 business days generally means 2 working days that could be between Mondays to Fridays.
- Federal Reserve bank holiday or a state or local bank holidays are not included in these business days.
- For instance, if you submit payroll on Monday and the paycheck date is Friday, payroll processing time basically starts on Wednesday at 5:00 p.m. (Pacific Time). For any reason if you don’t submit your payroll 2 business days prior, then your processing will start at 5:00 p.m. (Pacific time) on the day you submit it, and payroll capitals won’t be prepared until 2 banking days later.
Note: If you are not able to get any point or you are a bit confused while reading this article, you can contact or support team at QuickBooks Live Chat for further assistance.
How to process payroll federal Reserve bank holidays (for your reference we are explaining 2 main bank holidays)?
Labor Day (Monday, September 03, 2018)
For Labor Day holiday, you have to submit payroll a day before than normal. If your usual paycheck date falls on 9/3/18, you need to bear the following facts in mind:
- Modify your paycheck date for your direct deposit workers to Friday, e. on 8/31/2018.
- Submit your Payroll
- For QuickBooks Desktop Payroll Basic / Enhanced and QuickBooks Desktop Payroll Assisted Users- You need to submit prior to 5 p.m. Pacific Time on Wednesday, i.e. on 8/29/18.
- For Intuit Online Payroll and QuickBooks Online Payroll Enhanced users- You need to submit prior to 5 p.m. Pacific Time on Wednesday, i.e. 8/29/18.
Thanksgiving Day (Thursday, November 22, 2018)
For Thanksgiving Day holiday you have to submit payroll a day before than normal If your usual paycheck date falls on 11/22/18, you need to bear the following facts in mind:
- Make your necessary changes in your paycheck date for your direct deposit workers by Wednesday (11/21/2018).
- Submit your payroll:
- For QuickBooks Desktop Payroll Basic / Enhanced and QuickBooks Desktop Payroll Assisted Users- You need to submit prior to 5 p.m. Pacific Time on Wednesday, i.e. on 11/19/18.
- For Intuit Online Payroll and QuickBooks Online Payroll Enhanced users- You need to submit prior to 5 p.m. Pacific Time on Wednesday, i.e. 11/19/18.
How Early Can You Send Payroll?
You can send your payroll around one and a half months before the due date. For more details, visit QuickBooks Payroll Instructions & guide. One business day in advance the check date, on or nearby 12:01 a.m., payroll resources are withheld from the bank account you stated in QuickBooks Desktop. Accounts will be charged before normal banking hours, so you must have sufficient amount available in your account the day before actual deduction occurs.