How to Manage Payroll During Bank Holidays

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Bank holidays can disrupt the normal payroll schedule, leading to delays in direct deposits. To help you manage payroll during these times, this article covers how to process payroll efficiently, with options for running payroll before or after the bank holiday. 

Article Contents:
- Understanding Lead Time
- Options for Running Payroll - Paper Check
- Options for Running Payroll - Off-Cycle Payrun

Understanding Lead Time:

Lead Time refers to the number of days it takes to process a payrun before it is deposited into your team members’ bank accounts. Here are some examples of typical lead times:

• 4-Day Lead Time: A payrun submitted on Monday will deposit on Friday.
• 2-Day Lead Time: A payrun submitted on Wednesday will deposit on Friday.

Options for Running Payroll with a Bank Holiday:

Papercheck Option (Quickest):

This method allows you to bypass the bank holiday delay and pay your team directly. It's especially useful if your team works during the bank holiday weekend and you want to ensure all payments are accounted for.

How to use the Papercheck Option:

1. Update the payment method for this payrun to paper check.

2. Process the payroll as usual, and pay your team based on the Net Amount calculated on Page 2 of the payroll run. You can pay via an actual paper check or use a third-party app like Venmo or Zelle.

Note: Taxes will still be automatically withheld while the payments will remain in your account.

Off-Cycle Option:

If you submit the payrun before the bank holiday, your team will receive their direct deposit on their regular paydate for the hours worked up until that submission. Hours worked after submission will not be included in the bank holiday payrun.

You can use the Off-Cycle Payroll to account for any remaining hours worked after the initial payrun.

How to run an Off-Cycle Payroll:

1. Go to the Payroll Dashboard and select Run Off-Cycle Payroll.
2. Toggle on the team members who need to be included in the payrun.
3. Select the date range for the off-cycle payrun.
4. Choose the pay date for this run.
5. Toggle on any applicable benefits.
6. Run the payroll as usual.

If you have any questions or need further assistance, please contact GlossGenius Support.