Remember to run payroll early!
We wanted to remind you that Monday, January 16, 2023 is Martin Luther King Jr. Day (a federal banking holiday). Depending on your payroll schedule, that may mean you need to run payroll one or two business days early to get everyone paid on time.
We've included schedules for different turnaround times below. If you have any questions at all, feel free to contact us at 877-328-6505 or hello@onpay.com.
Holiday payroll schedules
Choose a turnaround time listed below. Note that if the pay date falls on the holiday, then the employee credit date is always the day before.
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
|
Pay dates affected by this holiday are listed in this column. Check for dates that coincide with your employee payday(s). |
Submit pay runs by 11:30 PM* of this column's date. **Running payroll on a bank holiday will not affect the employee payday. |
The date on which payroll funds will be debited from your account. This is typically the first business day following the submit date. |
The day on which your employees will see the funds in their account. If the pay date falls on the holiday, then the employee credit date is always the day before. |
Learn more about how turnaround time is determined.
2-Day Turnaround
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
| Friday 1/13 | Wednesday 1/11* | Thursday 1/12 | Friday 1/13 |
| Monday 1/16 | Wednesday 1/11* | Thursday 1/12 | Friday 1/13 |
| Tuesday 1/17 | Thursday 1/12* | Friday 1/13 | Tuesday 1/17 |
| Wednesday 1/18 | Monday 1/16** | Tuesday 1/17 | Wednesday 1/18 |
*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.
**Submit Date can be on the holiday, before 11:30 PM ET, without affecting the payroll turnaround time. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
4-Day Turnaround
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
| Friday 1/13 | Monday 1/9* | Tuesday 1/10 | Friday 1/13 |
| Monday 1/16 | Monday 1/9* | Tuesday 1/10 | Friday 1/13 |
| Tuesday 1/17 | Tuesday 1/10* | Wednesday 1/11 | Tuesday 1/17 |
| Wednesday 1/18 | Wednesday 1/11* | Thursday 1/12 | Wednesday 1/18 |
| Thursday 1/19 | Thursday 1/12* | Friday 1/13 | Thursday 1/19 |
| Friday 1/20 | Monday 1/16** | Tuesday 1/17 | Friday 1/20 |
*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.
**Submit Date can be on the holiday, before 11:30 PM ET, without affecting the payroll turnaround time. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
5-Day Turnaround
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
| Friday 1/13 | Friday 1/6* | Monday 1/9 | Friday 1/13 |
| Monday 1/16 | Friday 1/6* | Monday 1/9 | Friday 1/13 |
| Tuesday 1/17 | Monday 1/9* | Tuesday 1/10 | Tuesday 1/17 |
| Wednesday 1/18 | Tuesday 1/10* | Wednesday 1/11 | Wednesday 1/18 |
| Thursday 1/19 | Wednesday 1/11* | Thursday 1/12 | Thursday 1/19 |
| Friday 1/20 |
Thursday 1/12* |
Friday 1/13 | Friday 1/20 |
| Monday 1/23 | Monday 1/16** | Tuesday 1/17 | Monday 1/23 |
*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.
**Submit Date can be on the holiday, before 11:30 PM ET, without affecting the payroll turnaround time. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
Please keep in mind, OnPay schedules the direct deposit date based on information entered when running payroll and your turnaround time within OnPay. At the "Approve Payroll" step of the pay run, the direct deposit effective date may differ from the examples outlined above. If this occurs or if you have any questions about processing your payroll around this holiday, please contact us at 877-328-6505 or hello@onpay.com.
v6.23