Direct deposit is an expected form of payment now. It means your employees can skip running to the bank each pay date, and they can easily access online paystubs. It also accommodates fully remote employees and helps you cut down on paper, ink, and delivery fees. However, it can feel less tangible of a concept to some employers than a paper check does.
When you own a small business, you want to make sure your employees get paid on time. This means you need to know how much money to have in the correct account by a certain time. If your payroll service doesn’t disclose this information clearly, you can end up with additional fees or, worse yet, unpaid and unhappy employees.
At CSI Accounting & Payroll, we’ve worked with thousands of small business owners over the past few decades. Often, these owners want to know:
- When do I need to report my payroll information?
- When does my payroll specialist process and collect my direct deposit funds?
- When does my payroll specialist collect my payroll taxes?
- How much is payroll tax?