Nov 16, 2020 · Bi-weekly pay periods. A bi-weekly pay period delivers checks to your employees every other week on the same day (typically on Fridays, but employers can choose the payday that suits them best). A bi-weekly schedule can be a good choice for businesses with a mix of employee types so you can easily keep up with both hourly wages and salary checks.
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Semimonthly payrolls have 24 pay periods per year with two pay dates per month. These pay dates are commonly paid on either the 1st and the 15th day of the month or the 15th and the last day of the month and consist of 86.67 hours per pay period. Monthly payrolls have 12 pay periods per year with a monthly pay date.