What is semi-monthly vs. bi-weekly?

[accounting byte]

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 tracking to bi weekly if hourly wage rate isn’t changed significantly from pay to pay.

Suggested read: 

https://accountingbyte.com/semi-monthly-pay-meaning/

[Alex Arafat]

Understanding payroll schedules can be confusing, especially when deciding between semi-monthly and bi-weekly payments. It made me appreciate tools that make managing salaries simple, like the Utumishi Portal — Get easy access to all the Public services from the Government of Tanzania. Check your salary details, apply for leave, and more by registering on the ESS Utumishi Portal. Click on the link below to register and create an account! It really streamlines keeping track of pay and benefits.

[carson reed]

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