Your small business customers have a lot on their plates. And while paying their employees is top priority, sometimes getting payroll approved by Monday evening isn’t in the cards.
At Check, we want to make paying people simple – even in the case of a missed deadline. That’s why we’re excited to announce Next Day Pay, the fastest payroll processing speed available in embedded payroll.
Next day pay can be helpful your customers in a few ways:
- Recover from missed payroll approval deadlines
- Save money on wiring costs
- Ensure employees are paid accurately and on time
- Stay compliant in the event of an employee termination or departure
- Tighter control over cash flow and working capital
Offer greater flexibility with next day payments
Payroll deadlines can come up fast. But, even if your customers miss a deadline, they need help to ensure their employees are paid on time. Next Day Pay reduces payment processing time from 4 or 2 days down to just 1 day. On Next Day Pay, companies have until 5PM PT on Thursday to approve payroll, and employees will receive their money on Friday by 5pm PT. That’s an additional 24 hours to finalize payroll information before submission!
This extra time can be hugely beneficial to payroll administrators that still need to collect and input employee hours, reimbursements, paid time off, sick pay, and other information before approving a payroll. Faster payment processing options offer more wiggle room for when last-minute changes or corrections are needed.
This flexibility is especially important when it comes to employee departures and terminations. Many states, like California, have final paycheck laws that require companies to run off-cycle, expedited payrolls when an employee leaves or is terminated. Timeliness is critical for these situations, where the ability to run an off-cycle payroll is critical.
Help employers optimize their cash flow
Next day payment timelines not only empower companies with more flexibility, but also offer businesses more control over their cash flow. By allowing for payroll to be scheduled just one day before it runs, businesses are able to hold onto and utilize funds for an additional few days. This can be the difference between paying rent on time, or accruing late fees.
We’re excited to offer Next Day Pay, in addition to our 4-day and 2-day processing timelines, as a way for our partners to create better payroll experiences. If you’re interested in learning more about building a payroll business with Check, please reach out!