Depending on the circumstances, it may not always be best to backdate a policy.
Late payments can result in agency notices, fees, penalties, and interest.
Life insurance policies are issued at the your life insurance age.
Since age is one key factor in determining how much you will pay for your policy, it’s important to keep your age as low as possible when your policy is issued.
Transmitting a late payroll can negatively impact your business in several ways: Since it takes Intuit and the banks at least 2 banking days to process a direct deposit, not allowing 2 banking days means that your employees will not get paid on the date of the check.
In most cases, the funds will appear in the employee's account 2 banking days after the payroll is processed.
For Assisted Payroll only: You can find the late payroll processing fee under the Expenses tab on the Quick Books Desktop Service Liability Check.