excel bi weekly work standby schedule template

Excel bi weekly work standby schedule template pdf#
Excel bi weekly work standby schedule template plus#

It may also confuse employees and the payroll or human resources department.ĭownload Bi-Monthly Payroll Calendar Template PDF MonthlyĪ monthly payroll calendar is where you pay your employees at the beginning or end of every month. Difficult to calculate for weeks and holidays: Challenges may arise if a payday falls on a holiday or a weekend.Some overtime hours might be split between two pay periods and cause confusion. Not a good choice for hourly employees: While a bimonthly schedule would work well for salaried employees, it doesn’t make sense for hourly employees.This can save you some time on payroll processing. Less time-consuming: Compared to other options, a bimonthly payroll calendar has fewer pay periods.If you offer benefits such as health insurance and retirement, you’ll find it easier to deduct them from your workers’ paychecks. Simplifies benefit deductions: With a bimonthly schedule, benefits deductions and pay periods will correlate.

Since many types of benefits, including health insurance benefits, come with premiums that are charged every month, a bimonthly schedule will make processing them easier.īest for: Small businesses with benefit deductions If you deduct benefits from your workers’ paychecks, a bimonthly schedule is a smart choice.

Typically, these dates are the first and 15th of every month or on the 16th and the last day of every month. You’ll need to manage your deductions based on the 26 annual pay periods instead on a monthly basis.ĭownload Biweekly Payroll Calendar Template PDF BimonthlyĪ bimonthly payroll calendar is when you pay your employees on two specific recurring dates.

Benefit deductions can be difficult to manage: If you offer benefits, such as health insurance and retirement, benefit deductions and pay periods won’t always match up.

This means that sometimes paychecks your employees earn in one pay period will not be paid until the next pay period.

Three pay periods in some months: With the biweekly pay schedule, two of the 12 months will have three pay periods.

You can get a good deal on biweekly payroll processing if you use a payroll service.

Cost-effective: Since biweekly paychecks are so popular, they tend to be affordable.

Excel bi weekly work standby schedule template plus#

Plus your workers will know when to expect their paychecks and find it easier to budget for their expenses. Predictable pay cycles: If you opt for a biweekly pay schedule, you know you’ll need to process payroll every 14 days.This is because there’s a good chance they’re used to this pay frequency and will find it easier to transition.īest for: Small businesses that frequently hire new hourly and salaried employees If you hire a lot of new employees on a regular basis, a biweekly schedule might be your best bet. In fact, in the U.S., the Bureau of Labor Statistics states that 43% of businesses use a biweekly pay schedule. This is the most commonly used option because it can keep most workers happy without an excessive amount of admin work. Most employers who follow this payroll calendar distribute paychecks every other Friday. You might not be able to or want this level of frequency.ĭownload Weekly Payroll Calendar Template PDF BiweeklyĪ biweekly pay schedule is when you pay your employees every two weeks, or 26 pay periods per year. Significant time commitment: It can take a lot of time to run payroll four or more times per month.Also, if you send paper checks, your mailing costs will go up. Some payroll services place a cap on how often you can run payroll without additional fees. Higher payroll costs: You might have to spend more money on your payroll processing.You’ll find it much easier to do so when you track overtime on a weekly basis. Easier to calculate overtime: If you have employees who work overtime, you’ll need to pay them time and a half for their overtime hours, per the Fair Labor Standards Act (FLSA).If you have lower-wage workers or those with irregular schedules, this is a huge plus.

Greater cash flow for employees: A weekly payroll calendar gives your employees access to their wages fairly quickly.