03/09/2023
The answer is..... ⬇
B! Bi-Weekly payroll runs are the most common (and most liked by employees👍).
Why is that?
💰 Employees get paid more often. This pay schedule allows employees to look forward to a check or direct deposit every other week - allowing more flexibility for things like personal budgeting throughout the month. There will also be two months of the year in which an employee will receive THREE checks, as opposed to the typical two.
⏰ Payroll processing is easier. According to payroll and accounting specialists, a bi-weekly payroll makes paycheck variables, such as overtime, an easier calculation since it is on a consistent schedule. Schedules like semi-monthly are a bit trickier, in that you may have an employee accumulate extra time BETWEEN two semi-monthly periods, which may further confusion.
What works for some businesses may not work for others! Payroll schedules are unique to an entity's admin and employee needs, but should always be carefully considered. Connect with our amazing payroll team today to discuss your options!