Memorial Day always falls on the last Monday of May. This may affect the Payrolls you are responsible for.
Does Memorial Day Affect Direct Deposit?
Quickbooks Payroll will not process direct deposits on bank holidays, including Memorial Day. If payday falls on a bank holiday, then direct deposits will not be received on that day.
How to Ensure Timely Paychecks for Memorial Day
To ensure that your employees receive their paychecks before Memorial Day, you need to make a few adjustments to your payroll schedule. Here’s what you should do:
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Change Your Paycheck Date:
- Adjust the paycheck date to the Friday before Memorial Day. This allows for sufficient processing time and ensures that your employees receive their pay before the holiday. By moving the paycheck date up, you accommodate the bank holiday and prevent any delays.
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Send Payroll Early:
- Submit your payroll by 5 PM Pacific Time on the Wednesday before Memorial Day. This early submission ensures that the payroll is processed in time to meet the adjusted paycheck date. QuickBooks Payroll requires this advance notice to complete the direct deposit process before the holiday.
Adjusting Payroll for Other Bank Holidays
For other bank holidays or unusual payroll schedules, you may need to send your direct deposit payroll a day earlier than usual.
Here’s a general guideline to follow:
- Submit Payroll Earlier:
- If payday falls on a bank holiday or if you anticipate any issues with the regular processing schedule, aim to submit your payroll one day earlier than you would normally. This advance submission helps avoid any delays and ensures that employees are paid on time.
By planning ahead and adjusting your payroll schedule for holidays like Memorial Day, you can avoid disruptions and ensure that your employees receive their paychecks promptly. Staying proactive with your payroll management helps maintain employee satisfaction and avoids the stress of last-minute changes.
* Accounts are typically debited before regular banking hours, so you should have sufficient available funds in your account the day before the actual debit occurs.
Additional questions about payroll?
Call one of our payroll specialists at (503) 885-0776 today.
