Payroll question

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Vwisner
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Payroll question

Post by Vwisner »

We will be changing our pay periods from semimonthly to biweekly beginning with July. Can someone give me some insight as to how to go about doing this? I want to make sure it is done correctly, especially the salaried employees. The hourly employees should be fine, considering their hours change each pay period. Any insight would be greatly appreciated

Matt
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Post by Matt »

In Maintain List of Employees just change the Employee's Pay Period from semi-monthly to bi-weekly. You may also want to change the paycheck group code.

Determining how to recalculate the salaried employee's pay will be more challenging. If the annual salary will stay the same take half the annual salary and divide by 13 to come up with the per pay period amount, assuming that your fiscal year ends on December 31. If it ends at a different month end you will need to do some calculations to ensure that the total amount of pay the employee receives under the bi-weekly method is the same that they would have received had you stayed on the semi-monthly method.

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