• Section: US Payroll
  • Last updated: May 22, 2019, 12:33 p.m.

Direct Deposit Cutoff Time

AccountEdge offers the ability to pay employees using Direct Deposit.

The cutoff time for Direct Deposit is 6:30 p.m. Central Time. If a Direct Deposit is made after this time it will be processed with the following business day's activity.

No matter what your Payment date in AccountEdge is, when you process direct deposits it will take two days from the date the electronic payments are processed.

For example, in the screenshot below, you'll see that the Payment date is 11/2/2016. If I actually recorded this transaction on 10/25/2016 and used Prepare Electronic Payments to then process the payment on 10/25/2016 my employees would receive the payment in their bank accounts on 10/27/2016.

The same is true if you Prepare Electronic Payments and process later then the Payment date. For instance, if I had the Payment date as 11/2/2016 but didn't actually Prepare Electronic Payments and process the payment until 11/4/2016 then my employees wouldn't see these payments until 11/8/2016 (due to 11/4/2016 being a Friday).