Yes, but only for fixed contractors. There are no cut-off dates for pay-as-you-go (PAYG) contractors.
The cut-off date for all fixed contractors is normally the 10th at 6 a.m. UTC of the month, but it may vary for some customers. Please check the date on the option Company > Settings > Finance > "Invoicing: Contractor Invoice generation day".
This means that additional payments, such as bonuses or other payroll changes, submitted and approved before that date and time of the current month will be included in the current month’s pay cycle.
Note that expense reimbursements for contractors are managed in a separate invoice, so cut-off dates do not apply to expenses.
See also: What are cut-off dates?