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A pay period represents the period where an employee actually earns wages and typically ends a few days before the pay date, whereas a pay date is when paychecks are distributed or earnings are deposited into employee bank accounts. It's also usually the date that appears on an employee's paycheck or pay stub.

In order to create your payroll calendar, start at the end and work your way backwards. Decide when you want the check to be issued, then figure out how many days that will take. You will need to define the pay period for each check date and leave yourself enough time to determine hourly wages if needed.

The biweekly pay period is the most common, followed next by weekly, then semimonthly, then monthly.

For these employees, leave year 2023 will have 27 pay periods for leave accrual purposes. A leave year begins on the first day of the first full biweekly pay period in a calendar year and ends on the day immediately before the first day of the first full biweekly pay period in the following calendar year.

How to create a payroll calendar Choose a payroll schedule. Decide how you'll run payroll. Determine pay dates, pay periods, and payroll processing dates. Account for holidays. Set reminders.

Biweekly pay dates occur every other week, and semi-monthly pay is paid out on two specific dates a month (e.g. every 5th and 20th of the month). Other significant differences include: Biweekly Pay. There are 26 pay periods per year. Employees are paid on a specific day, e.g. every other Friday.

Semi-Monthly First pay period: The 1st through the 15th (it will always be 15 days) First pay date: The 20th. Second pay period: The 16th through the end of the month (it will vary in length by month) Second pay date: The 5th of the following month.

Payroll schedules dictate how often employees are paid and what is appropriate for their position or job title. You'll also need to factor in whether your employees are paid hourly or if they are salaried.

Employers use these calendars to inform employees of their pay schedule and to support timely paycheck processing. Payroll calendars typically reflect: Pay period start and end dates. Payment dates.

A pay cycle determines how often payroll is run and the specific days that workers are paid on. For example, a pay cycle is monthly, and employees are paid on the last day of the month. Alternatively, a pay cycle is weekly, and employees are paid on the Tuesday after the end of the pay period.