Missing a payroll approval deadline can cause significant inconvenience for both your company and your employees. It's important to act quickly to minimize any potential disruptions. Here are the steps you should take if you find yourself in this situation.
Immediate Actions
- Notify Atto: The first step is to contact Atto immediately to inform them of the missed deadline. Prompt communication is crucial to finding a timely solution.
- Review Your Options: Depending on the timing of the missed deadline and the scheduled payday, you may have the following options available:
- Fund Payroll with a Wire Transfer: If payday is fast approaching, you can fund the payroll via a wire transfer. This must be received no later than 5 PM ET on the day prior to payday to ensure timely processing.
- Morning Next Day Pay: For a premium charge, some payroll providers offer a Morning Next Day Pay option, allowing you to approve payroll by 8 PM ET and have employees receive their direct deposits by 8:30 AM local time the next business day.
- Manual Payments: If other options are not feasible, you can issue manual payments directly to your employees. This can be done via paper check, cash, Venmo, or other methods. It’s important to note that while this method ensures employees are paid, you must coordinate with Atto support to handle applicable taxes and garnishments.
Additional Considerations
- Understand the Charges: Be aware that some of these expedited or alternative payment options may incur additional fees. Review the costs associated with each option and decide what is best for your business and employees.
- Plan Ahead: To prevent future occurrences, review your payroll processes and approval deadlines. Consider setting reminders or alerts to ensure payroll is approved on time.
- Employee Communication: Keep your employees informed about any potential delays or changes to their payment schedule. Transparency is key to maintaining trust and morale.
Missing a payroll deadline is a serious issue, but quick and effective action can help mitigate its impact. By understanding your options and maintaining open lines of communication with both your payroll provider and your employees, you can manage the situation effectively.