When you Schedule invoices for a weekly or monthly pay run, how do banking holidays impact the payment processing timeline?
First, please consider the impact of the holiday on the Schedule of invoices and transferring of pay run funding as your staff enjoys the time off :)
Below, we address the potential interruption of the typical invoice life-cycle: Scheduled invoices begin Processing when the pay run starts and begin sending (In Flight) as soon as: 1) banking hours open, and 2) funding is received.
Weekly pay runs
When a holiday falls on a Friday, this will not impact the initiation of the pay run at the end of the day. Invoices will advance to Processing and we will create payments for sending and which will await your funding on the standard timeline, e.g. funding is already available in your PPFA or is received on Monday, payments send during banking hours on Monday.
When a holiday falls on a Monday, there will be a one-day pause in the standard processing timeline. You may fund on your standard schedule, and payments will begin processing at the earliest on Tuesday morning when banking hours resume. These dates are highlighted in teal below.
Monthly pay runs
When a holiday falls on the last calendar day of the month, this will not impact the initiation of the pay run at the end of the day. Invoices will advance to Processing and we will create payments for sending and which will await your funding on the standard timeline, e.g. funding is already available in your PPFA or is received on the 1st of the month, payments send during the next available business hours.
When a holiday falls on the 1st of the month, this will delay the standard processing timeline. You may fund on your standard schedule, and payments will begin processing as soon as banking hours resume.
Holiday | 2024 | 2025 | 2026 |
New Year's Day | Monday, January 1st | Wednesday, January 1st | Thursday, January 1st |
Martin Luther King Jr. Day | Monday, January 15th | Monday, January 20th | Monday, January 19th |
Washington's Birthday (Presidents Day) | Monday, February 19th | Monday, February 17th | Monday, February 16th |
Memorial Day | Monday, May 27th | Monday, May 26th | Monday, May 25th |
Juneteenth | Wednesday, June 19th | Thursday, June 19th | Friday, June 19th |
Independence Day | Thursday, July 4th | Friday, July 4th | Saturday, July 4th* |
Labor Day | Monday, September 2nd | Monday, September 1st | Monday, September 7th |
Indigenous People’s Day | Monday, October 14th | Monday, October 13th | Monday, October 12th |
Veterans Day | Monday, November 11th | Tuesday, November 11th | Wednesday, November 11th |
Thanksgiving Day | Thursday, November 28th | Thursday, November 27th | Thursday, November 26th |
Christmas Day | Wednesday, December 25th | Thursday, December 25th | Friday, December 25th |
*Falls on a Saturday, not observed
**Falls on a Sunday, observed on Monday
Questions? Please reach out to Payment Operations via our group email alias or our shared Slack channel, and we’ll be happy to assist.
Your freelancers may always reach our Help Desk via the Support button on any page of Worksuite or by submitting a support request from the top of any page in this Help Center.