Depending on the payment processing model used by your financial
institution, you may be able to specify either a delivery date or a processing
date for your online vendor payment. If you can enter a delivery date, QuickBooks
automatically enters the earliest possible delivery date based on the lead time
for that payee. Lead time is the number of business days it typically takes
from the time you send a payment instruction to your financial institution to
when the payee receives the payment. If your financial institution uses a
processing date model, enter the date you want the funds withdrawn from your
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 one or two
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 four 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
The first time you send an online vendor payment instruction, the delivery date
defaults to a lead time of four business days, even if the payment will be made
by an electronic funds transfer (EFT). After that, the delivery date for EFT
payments defaults to a lead time of one business day. The lead time is shown in
the Edit window once a payee is set up as an online payee.
Note: 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.