The Complete Guide to Biweekly Pay Periods and Payroll Management
When it comes to managing employee pay, choosing the right pay period is essential for both employers and employees. One of the most common pay periods used by businesses today is the biweekly pay period. But what exactly is a biweekly pay period, and how does it impact payroll management? This guide will break down everything you need to know about biweekly pay periods and offer tips for managing them effectively. What is a Biweekly Pay Period? A biweekly pay period refers to a payroll system where employees are paid every two weeks. This means that employees receive 26 paychecks in a year, as there are 52 weeks in a year, and 52 divided by 2 equals 26. Key Features of Biweekly Pay Periods: Frequency: Employees are paid every two weeks, regardless of the number of days in the month. Paychecks per Year: Since a year contains 52 weeks, a biweekly pay period results in 26 paychecks annually. Consistency: Employees can expect the same payment schedule (every two weeks), which can...