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What is the cutoff time for finalizing a payroll for Direct Deposit?

April 26, 2017cutoff deposit finalizing payroll time

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What is the cutoff time for finalizing a payroll for Direct Deposit?

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We must finalize the payroll no later than 1:00 PM, at least three days before the Pay Date. Example 1: To have funds in your employees’ bank account sometime on Friday, we must finalize the payroll by 1:oo PM on Tuesday. The employer’s account must have funds by the end of the banking day on Tuesday. Example 2: To have funds in your employees’ bank account by 9:00 AM Friday, we must finalize the payroll by 1:00 PM on Monday, and you must have the funds available by the end of the banking day on Monday.