A pay period refers to a recurring timeframe, such as weekly, biweekly, or monthly, that an employer uses to calculate and distribute employee wages over the course of the year.
Understanding How Pay Periods Work
The pay period you select determines how frequently your employees will receive their earnings. For instance:
- A weekly pay period results in 52 paychecks annually.
- A biweekly pay schedule leads to 26 paydays each year.
- A monthly pay cycle means employees are paid just 12 times per year.
Choosing the right pay period depends on your business needs and payroll processing preferences. Payroll platforms like Beyond can help automate these schedules to keep payments accurate and on time, regardless of frequency.