Remember bank holidays when running payroll
Monday, October 13, is a federal banking holiday. The Federal Reserve pauses ACH payments on all federal holidays, which can delay direct deposit payments. If your payday falls on or immediately after this holiday, you may need to run payroll one business day early to avoid paying employees late. And if the payday falls on the holiday, you'll need to change the check date.
Check dates scheduled for Monday, October 13 should be adjusted to Friday, October 10, and submitted by Wednesday, October 8, to avoid paying employees late*.
If your payday falls on Tuesday, October 14, you won't need to change the check date to avoid paying employees late, but you will need to submit payroll one business day earlier*.
*Based on a 2-day turnaround. For 4-day turnaround, submit by October 6 (see payroll schedules below).
Payroll submission deadlines for a 2-day turnaround
| Payday falls on | Submission deadline* | Employer draft date | Check date |
| Friday 10/10 | Wednesday 10/8* | Thursday 10/9 | Friday 10/10 |
| Monday 10/13 | Wednesday 10/8* | Thursday 10/9 | Friday 10/10 |
| Tuesday 10/14 | Thursday 10/9* | Friday 10/10 | Tuesday 10/14 |
| Wednesday 10/15 | Monday 10/13* | Tuesday 10/14 | Wednesday 10/15 |
*OnPay’s Banking cut-off is 11:30 PM ET. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day. Submission deadline can be on the holiday, before 11:30 PM ET, without affecting the payroll turnaround time.
Payroll submission deadlines for a 4-day turnaround
If your payday falls on Monday, 10/13, we recommend that you change the Check Date to Friday, 10/10, and submit payroll by Monday, 10/6, to avoid paying employees late. For all other paydays, refer to the "Submission deadline" and "Employer draft date" columns to ensure payroll is submitted on-time, and funds are available.
| Payday falls on | Submission deadline* | Employer draft date | Check date |
| Friday 10/10 | Monday 10/6* | Tuesday 10/7 | Friday 10/10 |
| Monday 10/13 | Monday 10/6* | Tuesday 10/7 | Friday 10/10 |
| Tuesday 10/14 | Tuesday 10/7* | Wednesday 10/8 | Tuesday 10/14 |
| Wednesday 10/15 | Wednesday 10/8* | Thursday 10/8 | Wednesday 10/14 |
| Thursday 10/16 | Thursday 10/10* | Friday 10/11 | Thursday 10/17 |
| Friday 10/17 | Monday 10/14* | Tuesday 10/15 | Friday 10/18 |
*OnPay’s Banking cut-off is 11:30 PM ET. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day. Submission deadline can be on the holiday, before 11:30 PM ET, without affecting the payroll turnaround time.
How to adjust the check date
You can change the Check Date in the Payroll menu, by opening the Run Payroll Options in the upper right.
The Check Date can be adjusted to Friday, 8/30, provided it is submitted by 8/28 at 11:30 pm.
Run payroll early
Refer to the schedules outlined in the tables at the beginning of this article when adjusting the check date for a holiday. Your turnaround will affect your payroll submission deadline.
Direct deposit effective dates may be automatically adjusted from the date you enter, based on turnaround time. The number of business days between the check date and the date payroll is submitted cannot be fewer than your payroll turnaround time. Always refer to the direct deposit date presented in the pay run Confirmation (step 3).
If you have questions about processing your payroll around this holiday, or need help running payroll, submit a request for support, or call us at (877) 328-6505.
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