Overview
Two timelines are used to process payments by direct deposit on Heard Payroll —employers will automatically be put on 2-day payments when they begin running payroll.
Bank reminders
- Payments run on a weekend or bank holiday will not begin processing until the next business day.
- Paydays cannot fall on a weekend or bank holiday because banks do not transfer money on these days.
- There must be enough funds in your bank account to cover both the net payroll amount and all associated taxes in full.
Check date reminder
Regular payrolls will always default to pay out on the regular check date—even if your payroll is processed early; regular payrolls will not pay out early.
- Example: Your private practice pay schedule is set up to have check dates of the 1st and 15th of the month. If you process payroll on the 10th and use 2-day processing, payroll will still payout on the 15th, per the company pay schedule.
2-day payments
With 2-day payments, you can process payments up to two business days before the check date. Funds are usually deposited in your team's bank account(s) early in the morning.
2-day payment timeline example
- Wednesday: Run payroll or contractor payments by 4 pm PT.
- Wednesday: You will see funds debited from your company's bank account. Funds are processing.
- Friday: Funds are deposited in your team's bank account(s), usually in the morning.
4-day payments
With 4-day payments, you must process payments four business days before the check date. It's important to remember you must have enough funds available in your bank account at the time the payroll is processed.
- Monday: Run payroll or contractor payments by 4 pm PT.
- Important: Make sure you have enough funds available in your company bank account—depending on the bank, you may see the funds debited the same day or, on occasion, the next day.
- Tuesday –Thursday: Funds are processed.
- Friday: Funds are deposited in your team's bank account(s), usually in the morning.
Setting up autopay
If you want to set up autopay with Heard, please ensure you're using 4-day payments. You may need to log into Gusto and switch your direct deposit speed from 2 to 4 days. You can follow the steps provided here: Direct deposit payment speeds. After completing this, the changes will sync with Heard.
If enough funds are not available when payroll is debited from your bank account, Gusto will charge a $100 processing fee for the error, your access to next-day and 2-day payroll processing speeds will be suspended for a period of time, and the ability to process payroll will be blocked until automatic re-debit clears.