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Good Morning
I started using Square payroll, can somene tell me when the funds are deducted from my account? is immediate or when my employee deposits their check?
thanks!
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@Gam1 Your payroll debit will be processed on the same business day that payroll is processed – so you’ll generally see the debit that same evening, or by the following morning.
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The title of this thread was updated from its original title: “payroll funds available”
Good afternoon @EnzaEvents, so sorry for this late reply! If you're paying your employees by manual check only the taxes will be debited from your bank account the day you run payroll. This debit will occur at 8pm PST.
When your employee cashes their check, your bank account will be debited for the amount of their pay.
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How about your direct deposit employees? Are the funds immediately withdrawn when you run payroll? Or the day before payday, etc.?
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@wishFULL The debit is initiated the evening after their payroll is sent. Some of the debits will appear on their bank account that same evening or the next day depending on the speed of their bank.
@EJ_ I just want clarification. I just started payroll and it says i need to run it on 8/20 by 8pm for direct deposit to employees on 8/24. Does that mean I will be debited on 8/20 or on 8/24? thanks for clarification.
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@Gam1 Your payroll debit will be processed on the same business day that payroll is processed – so you’ll generally see the debit that same evening, or by the following morning.
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This reply was created from merging an existing thread: When are my payroll funds deducted from my account if paying by direct deposit?
I am paying an employee by direct deposit. when will those funds be debited from my account?
@Vanaventuresinc I merged your post into this thread so you can read the answer to this question from @EJ_!
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I couldn't find the answer either even after spending a few hours googling it and got a nasty surprise when I assumed a direct deposit payroll would run similarly to a manual check payroll. It did say employees would get their money on the pay date and I didn't see any reason why it would come out of my account prior to the pay date. However, Square takes ALL the money out the day after you run the payroll. All the pay, all the taxes, all the fees. The next day. So my payroll was due by 2/18, and pay day is 2/22 - it all came out 2/19. Surprise!
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@Perkeley_pit I'm very sorry that this information wasn't made clearer before you set up Square Payroll (it sounds like you might have used Automatic Payroll). I've shared your feedback with the Payroll team so we can make it really clear when your linked bank account will be debited.
In the meantime, there's more information in this Support Center article: Square Payroll Payment Schedule.
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The title of this post has been changed by a moderator from: "Payroll".
When switching from manual paycheck to direct deposit how long before my associate sees her pay in her account
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I have this same question thanks for asking
Hi again @ABQBodyPotions - it looks like @EJ_ answered this question here ✨
If you want to edit your payroll period, you can learn how by heading to this page!
If you have account-specific questions about your Square Payroll processing, be sure to get in touch with the team over the phone.
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