Why do most companies choose bimonthly payroll?

[mrhenrypowell]

Companies usually have a decision whether to use bimonthly or biweekly payroll, depending on the ease of administration and accounting activities. A bimonthly payroll schedule is usually 24 payments in a year, which may make it easier to budget and report on finances as the payments are made by set dates in the calendar.

Meanwhile, biweekly payroll is a pay period that consists of 26 periods each year, with a 14-day cycling period. Although this is a schedule that employees prefer since, at times, they may get an additional paycheck at the end of a month, it may demand additional payroll processing during the year.

read more: https://managetrix.com/resources/bimont ... y-payroll/