What is a Pay Period? How are Pay Periods Determined?

Much like a drummer in a band, payroll sets the rhythm for a business’s entire operation. However, the tempo of your company’s pay schedule is dependent on its leaders, who are responsible for conducting the pace at which employees are paid.Having a simple, predictable, recurring schedule that determines how often and when employees are paid ensures workers are compensated for their efforts on a regular basis. It also simplifies monthly reporting requirements for expense accruals, tax deposits, and insurance.Continue reading to gain a stronger understanding of the different types of pay periods and how to determine the option that’s best for your company. Table of Contents 1 What Is a Pay Period? 2 Pay Period Types 3 Weekly Pay Periods 4 Biweekly Pay Periods 5 Semimonthly Pay Periods 6 Monthly Pay Periods 7 What Type of Pay Period Is Right for You? 8 Take the Stress Out of Payroll What Is a Pay Period?A pay period is a recurring schedule that determines how often employees are paid. Ha...