accounting byte's Page

Payroll schedules are semi-monthly and bi-weekly. For employees to be paid semi-monthly, they are paid on stated fixed days: the 1st and 15th, and this is semi yearly. It refers to an employee being paid bi-weekly, twice a month, allowed it is, on the same day (every other Friday). At that, semi-monthly provides 24 pay periods a year while bi-weekly yields 26. The semi monthly offers preset dates but the days of the pay period may differ. This simplifies calculation of hourly wage and overtime…See More