Payroll Schedules, Payroll Calendars

Companies sometimes reconsider their payroll frequency, or are unsure of which of the payroll calendars is best for their business. There is commonly some confusion about the difference between bi-weekly and semi-monthly pay periods, for example. Wizard Payroll is happy to assist our clients with any questions they might have about payroll schedules.

The most popular payroll periods or payroll frequencies are:

• Weekly payroll is where paychecks are issued every single week on a certain day, usually every Friday.
• Biweekly payroll is where paychecks are issued every other week on a certain day; every other Friday, for example.
• Semimonthly payroll is where paychecks are issued twice per month, usually on the 15th day and the last day of each month.
• Monthly payroll is where paychecks are issued only once per month, on the last day of the month for example.

Wizard Payroll can assist with deciding which of the payroll schedules is right for your business. Because there are many possible benefits and drawbacks to any particular payroll frequency, it helps to consider your company's priorities, goals, and objectives when making your choice.