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QuickBooks Payroll Deadline

QuickBooks Payroll Deadline

What is QuickBooks Payroll Submitting Important Date Deadlines?

Payroll is one of the imperative parts of the business which has a direct influence on the satisfaction and contentment felt by an employee with his company as it deals mainly with the salary, incentives, and monetary satisfaction of the company’s employees.

It also consists of tax which is called Payroll tax and needs to be filed and paid within the set period. If this deadline is exceeded then the company is liable to pay a fine. The one area where special attention needs to be paid is the Direct Deposit deadline.

As per payroll tax regulations last day to send out checks through Direct Deposit is by 28th of December of every year at 3:00 p.m. (PT). Required amount will be transferred into the account of the respective employee by 30th December of every year.

QuickBooks Payroll Deadline for Direct Deposit

Users can also increase security limit of Direct Deposit if they require to. This security limit is placed to protect businesses from ACH (Automated Clearing House) fraud activities as they put a cap over the amount that can be sent through the Direct Deposit method.

In a scenario wherein the business owner expects the total year-end payroll amount (as well as the unscheduled bonus paychecks combined) to exceed the amount currently paid through direct deposit, they can appeal for the increase of the security limit.

Before appealing for an increase ensure that the following listed details are readily available and provided forward as and when required:

  • Name and Contact email id of the primary employee.
  • ID issued under Federal tax.
  • Legal and authorized name of the company.
  • The date on which the Paycheck is issued.
  • The amount that needs to be readjusted

Another option apart from requesting for an increase in the limit is by providing a manually written check for both bonus and commission to the employee instead of paying the same through Direct Deposit method.

Under this method, the employer needs to follow the enumerated instructions below:

  • Open the software and on the dashboard locate the ‘Unscheduled / Bonus Check’ option.
  • Select the ‘Direct Deposit’ tab from the option labeled Pay Method and from the new menu mark the option ‘Check’.
  • To request an increase in the security limit of Direct Deposit:
  • Go to Intuit website and locate Intuit Security Limit Increase Requests option.
  • Provide required and asked details.
  • Click on Save, after which the concerned official will review the request in the period of two business hours.

Most businesses opt to increase this limit only one or two times in the year, especially when the time to pay bonuses to employees comes into the picture.

Certain imperative tips regarding this are:

  • It is better to pay bonuses with large amount through paper check instead of Direct deposits.
  • Try to break up the Direct Deposit amount into different small check dates.
  • Keep 5 days funding as a time period while applying for the increase in the limit.
Help In Case Missed The deadline to Process Payroll

In case you wish to know whether you have missed the deadline or not, it is better to check the status of the Direct Deposit. If the process for paychecks hasn’t been started, employees can be provided with handwritten paychecks along with pay stubs.

Check the direct deposit status. If we haven’t started processing the direct deposit paychecks, you can give out handwritten checks along with printed pay stubs.

FAQs

  1. What is the deadline for QuickBooks’ direct deposit?

    The deadline for QuickBooks direct deposit is two days. You have to submit the direct deposit payroll before the pay so that employee gets paid their salary regardless of any pay period. For instance, if check data falls on Monday and you have submitted the direct deposit on the same day, it will credit to the employee account on Tuesday.

  2. What is the halt/cutoff duration for QuickBooks Payroll?

    It is 5 PM PST the day prior to payday, not before two banking days.

  3. Would the direct deposit be delayed?

    The direct deposit often does not appear as planned; the major cause is it might take some additional days to process due to the holidays.


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