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cblair

Why so long to deposit Payroll?

I've been using Off Cycle payments a lot because my employees do irregular jobs. But Square tells me usually it will deposit the funds 5 business days later. Why so long?

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Admin

Re: Why so long to deposit Payroll?

Hi @cblair!

 

Employee pay day is five business days after the end of the pay period. Employees who are paid by direct deposit will receive their pay on this date, provided payroll is processed by 8:00 PM PST the business day following the end of the payroll period.

 

For example, if your payroll period ends on a Saturday, you’ll process payroll before 8:00 PM PST on Monday, and employees will receive their direct deposit on Friday.Payroll processed late will be deposited 4 business days after the date it was submitted, as there is a 4 business day processing period for direct deposit.

 

At this time, you’re unable to edit the length of time between the end of your pay period and your pay date. I can see how this feature would be useful for your business, so I’ll be sure to pass your suggestion along to our development team.

 

You can write checks to manual check employees for their net pay as soon as you run your payroll. We will send you an e-mail containing the net pay amounts to write checks for.

 

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cblair

Re: Why so long to deposit Payroll?

Great, thanks. I could see why 5 days after payroll may be a regular pay date. However, for employees with irregular work hours, there's never a regular time to get paid. Some weeks we have work, some we don't. So when they do work, they need to be paid more quickly. I use Off Cycle payroll almost exclusively so I don't make this time longer. I'll consider cutting manual checks in a pinch, but I'm trying to avoid more busy work.

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Admin

Re: Why so long to deposit Payroll?

@cblair Totally understandable! 

 

I see how this would be a great suggestion for future improvements so I've let the Payroll team know how this would work best for your business. 

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