For business owners, a consistent payroll schedule is crucial for effective accounting and compliance. Part of your yearly payroll schedule, pay periods run seamlessly at predictable intervals with clear start and end dates.

What Is a Pay Period?Ī pay period is the timeframe for when your employees’ work hours are tracked, recorded, and turned into paychecks. Here, we’ll explain different payroll arrangements and help you create a pay period calendar for 2024. With our centralized platform, you enjoy fast, accurate payroll. Not to mention, your employees will have a clear idea of when their earnings fall into their bank accounts.īambooHR helps thousands of businesses handle core human resource tasks in ways that keep everyone organized and on course. With a calendar, it’s easy to figure out how many pay periods occur during the year, what days to run payroll, and even how much you’re spending on administrative costs. Pay periods are all about timing-finding the right balance and sticking to a schedule that helps keep everyone on track. How can you pave the way for more predictable payments in the New Year? Creating a pay period calendar is a great place to start. Plus, the payroll mistakes that affect your employees’ livelihood may also mean penalties and legal trouble for your company. This is especially true for the 61% of consumers living paycheck to paycheck and the one in five Americans who don’t have emergency savings to fall back on. People depend on their employers to pay them on time every time.

Free bi weekly work schedule template