Does Patriot Software Support Same-Day Direct Deposit, and What Are the Alternatives for Urgent Payroll Needs?
Patriot Software does not support same-day direct deposits. This limitation applies across all plans and scenarios, including termination payouts, payroll advances, and urgent payroll needs. Below, we outline the key details and alternative options available for faster payroll processing.
Same-Day Direct Deposit Limitations
No Same-Day Direct Deposit: Patriot Software does not offer same-day direct deposit under any circumstances. This includes payroll funded by wire or instant payments. Employee deposits are processed via the ACH network, which requires advance funding and processing time.
Banking Day Restrictions: Saturday is not considered a banking day, so payroll cannot be processed or deposited on Saturdays.
Alternatives for Faster Payroll Processing
Next-Day Direct Deposit: - Payroll can be processed for the next banking day if funds are received by Patriot Software by 3:00 PM ET the previous day. - A $15 wire fee or $5 instant payment fee for funding the payroll applies for next-day direct deposit via wire..
Manual Checks for Urgent Needs: - For same-day payroll needs, disable the employee’s direct deposit and issue a paper check outside the system. Run the payroll in Patriot Software using an off-schedule payroll with the appropriate pay period and pay date.
Guidelines for Payroll Timing
Wire Transfers: Wires must be initiated by 3:00 PM ET to ensure next-day processing. After this time, delivery by the 7:00 PM ET cutoff is not guaranteed.
Tax Deposits: For semiweekly tax deposits, payroll must be run at least one business day before the pay date to ensure timely deposits. Running same-day payroll may result in late tax deposits.
FAQs
Q: Can I expedite a direct deposit application to process payroll today?
A: No. Direct deposit applications cannot be expedited and are reviewed in the order they are received.
Q: What happens if I send payroll funds today for a paydate today?
A: If funds are sent today, the earliest payout would be the next business day after the file is sent to the bank.
Q: Can I process payroll the same day on the Basic plan?
A: Payroll can be run on the pay date for Basic Payroll customers, but payroll will not be sent via direct deposit on the Basic plan.