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Online Bill Pay message: It is too late to process this payment
When you send an online bill payment, you see a message that says:
It is too late to process this payment on [date].
The payment is then processed, but this message displays:
Cannot be processed on [date], The date has been changed to [date].
Why this is happening
Banks and other financial institutions require time to process online bill payments. If the time between when you entered the payment and the date you want the payee to receive the payment is less than the bank's minimum processing time, then you will see a message like the one above.
How to fix it
Depending on how your financial institution processes payments, you should be able to specify either a processing date or a delivery date for your online payments.
If your financial institution uses a processing date model, you enter the date you want the funds withdrawn from your account. If you schedule a payment too late in the day, it may be after the bank's cutoff time for bill payments, and the payment will be scheduled for the next day that transactions are processed.
If you can enter a delivery date, QuickBooks automatically enters the earliest possible delivery date based on the bank's lead time for that payee. (
is the number of business days it typically takes from when you send a payment instruction to your financial institution to when the payee receives the payment.)
If the payee is set up to receive an electronic funds transfer (EFT), the financial institution's payment processor transfers the money directly from your account to your payee's. This type of payment usually takes 1 or 2 business days.
If the payee cannot receive EFTs, the financial institution's processor prints a check that includes the account number the payee uses to identify you. The check is sent to the payee via U.S. mail or express delivery. This type of payment usually takes 4 business days to reach the payee, but it could take more or less time, depending on the speed of the service in the payee's delivery area.
The first time you send an online vendor payment instruction, the delivery date defaults to a lead time of 4 business days, even if the payment will be made by EFT. After that, the delivery date for EFT payments defaults to a lead time of 1 business day. The lead time is shown in the Edit window once a payee is set up as an online payee.
Before you can process online payments, you need to set up your bank account and online payees for online bill pay. Check this
for available online payment options.
Because processing times can vary, it is always a good idea to enter a delivery or processing date that is a few days before the actual due date for your payment.
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INF27637 - Online Banking 101
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