QuickBooks Payroll Options

A Faster Way to Pay Your Employees from QuickBooks Payroll

24-hr Direct Deposit:

Details:

QuickBooks Payroll has recently launched an innovation to solve the pain point at the core of a small business – getting employees paid. With the latest feature, 24-hour Direct Deposit, it allows small business customers to approve your direct deposit by 5 PM PT and still make payday the next business day. Just enter each employee’s details as you normally would, whether it be an hourly or salary worker. The confirmation screen will display when the funds will be withdrawn from the employer’s bank account and deposited into the employee’s bank account.

Benefits:

  • Faster time to pay your employees
  • Free to use
  • Hold on to your cash longer
  • Flexibility to run payroll when it’s convenient for you
  • Available for all QuickBooks Payroll customers (QuickBooks Online Payroll and QuickBooks Full Service Payroll

Approved copy bullets (for email/chats):

  • Direct deposit is free for you and your employees
  • Submit payroll up to 5 PM (PT) the day before payday
  • Take more time to run payroll and hold onto your cash longer

Same Day Direct Deposit:

Details:

The latest offering from QuickBooks Payroll speeds up the time to pay employees even more! Same Day Direct Deposit allows small business customers to approve their direct deposit by 7 AM PT and run payroll the same day.

Benefits:

  • Fastest time to pay your employees
  • Free to use
  • Available for QuickBooks Full Service Payroll users only

Approved copy bullets (for email/chats):

  • Pay your employees faster with free same day direct deposit
  • Submit payroll up to 7 AM (PT) the day of payday
  • No additional charge for same day service

Comparison of Free Direct Deposit submission deadlines across different solutions:

Direct Deposit Submission deadlines for employees to recieve money on friday(PT)
Monday Tuesday Wednesday Thursday Friday Total Time to Payday*
Intuit Same day DD
(QBFSP starting Feb 2018 )
7am 4-16 hours
Intuit Payroll With 24hr DD
(QBOP,QBFSP in Dec 2017 )
5pm 7-31 hours
Intuit Payroll
(IOP,IFSP,Desktop )
5pm 31-55 hours
Competition* 12pm to 18pm 76 - 108 hours

*Xero = 12PM PT, Gusto = 4PM PT, Square = 8PM PT. **Exact time depends on the employee’s receiving bank and can vary. Estimates in this table assume a range of Friday 12am to 11:59pm


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