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Settlement date (definition)

The date on which the payment is settled with the agency and the transaction is completed.

For scheduled payments set up for e-pay, the settlement date is the typically the date on which the bank account is debited. Certain agencies, however, have different guidelines that dictate how and when payments are settled and funds are withdrawn, so you should also be aware any specific settlement guidelines required by your agency. For agency contact information, visit the Go onlineQuickBooks Payroll Tax Support web site.

The settlement date may also be known as the "withdraw on" date or the "ACH" date.

KB ID# H_PAY_GLOSSARY_DATE_SETTLEMENT
9/25/2016 5:16:15 AM
PPRDQSSWS407 9138 Pro 2017 d7403d