New Enhancements to QuickBooks One-Day Direct Deposit Payroll

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QuickBooks has new enhancements to One-Day Direct Deposit Payroll, now allowing small businesses to pay full-time, part-time and contract employees faster and keep money in their accounts longer, preventing NSF (non-sufficient funds) situations.

Cash flow is the lifeblood of small businesses, and payroll has a tremendous impact on maintaining positive cash flow. Yet, payroll is something business owners often struggle to navigate. In fact, we recently found that 32 percent of small businesses have paid their employees late due to cash flow problems, and 68 percent of small- and medium-size businesses, at one point, have had to move money around in order to make payroll.

This can put small businesses in a catch-22. It’s vital for them to hold onto their cash to cover the costs of overhead expenses and supplies. However, it’s also imperative that their employees get paid on time, or they risk alienating or losing valuable staff. After listening to businesses that struggle with this issue, we developed new enhancements to QuickBooks® Payroll’s One-Day Direct Deposit capability, allowing businesses to pay their teams faster than any other comparable payroll service.*

Here’s a quick overview of what’s new:

  • Hang on to Cash for Longer: QuickBooks will now debit the small business on the day employees are paid and not several days before, leaving the money in their accounts longer and improving cash flow. 
  • More Time to Manage Payroll: QuickBooks users will now have more time to add additional employees to a pay run or fix a mistake. In the past, running payroll early meant the transaction was sent to the bank sooner, after which the direct deposit could not be changed. Now, QuickBooks will hold the transaction until 5 p.m. PT the day before payday, aligning with the deadline to submit payroll.
  • A Consistent Payroll Experience: The experience will now be consistent every time QuickBooks users run payroll, no matter when they do so. It’s so easy, small businesses won’t even have to think about when to run payroll anymore because they know the money won’t come out of their account until payday.

When using One-Day Direct Deposit, business owners should find much of their frustrations and worries surrounding payroll are now less taxing, and remember it's just another benefit of your payroll subscription because there is 'no' additional charge if you are an Intuit Online Payroll or Intuit Full Service Payroll Customer to make use of this enhanced experience.

You can read more about these enhancements in this QuickBooks Blog feature, or get the details and FAQs at this official QuickBooks Payroll Same Day Direct Deposit website.

Editor's Note

No, Liz has not abandoned the Monday Minute... she has been busy lately with a lot of work for the Intuit Trainer-Writer network as the Recertification Renewal Date for QuickBooks Online and QuickBooks Online Advanced approaches. So, I thought it might be nice to give her a little vacation time so that she could spend it with her kids while school was out and she was between training trips. 

That's why she is taking a break from her regular Monday features, and you are having to put up with me writing the Monday Minute for at least a couple more weeks until she climbs back into the 'QBO writer's chair' here at Insightful Accountant.

By the way, "what is a vacation, anyway?"

Murph