Billpaywiki.com – A confusing payroll frequency is definitely a nightmare for both employees and employers. You certainly need an organized biweekly pay schedule 2023 that matches with the cashflow, state regulations, and employees’ aspirations.
A fixed pay date in a calendar or template should be made before the business starts. It then needs to be announced to create an orderly situation that must be obeyed by everyone.
In this article, we will guide you to understand about the biweekly pay frequency along with samples of its calendar to help you make your own.
What is Biweekly Pay Schedule 2023?
A biweekly pay schedule can be described as a schedule which gives employees their salary every other week. There are 26 total checks distributed throughout the year.
A company usually chooses a specific day to grant the workers’ salaries. Most workers, however, choose Friday as it’s near the weekend.
From a business perspective, a biweekly pay is the best choice if you don’t have a consistent profit in a weekly period. It also matches with a company that has both full-time and hourly employees.
You don’t need to pay the workers every week, which may cost you a lot, but you can still give the employees a pay for 2 weeks. The full-time workers will be happy to receive their earning on this cycle, while the hourly ones can use the other week to do overtime.
Example of Biweekly Pay Schedule 2023
A company typically will announce a pay schedule for the whole year. Here’s an example of a biweekly pay frequency with checks given on Friday.
|No||Work Period||Due Date||Pay Dates|
|1||Dec 25 2022||Jan 7 2023||2022-01-10 00:00:00||2022-01-13 00:00:00|
|2||2022-01-08 00:00:00||2022-01-21 00:00:00||2022-01-23 00:00:00||2022-01-27 00:00:00|
|3||2022-01-22 00:00:00||2022-02-04 00:00:00||2022-02-06 00:00:00||2022-02-10 00:00:00|
|4||2022-02-05 00:00:00||2022-02-19 00:00:00||2022-02-21 00:00:00||2022-02-24 00:00:00|
|5||2022-02-20 00:00:00||2022-03-04 00:00:00||2022-03-06 00:00:00||2022-03-10 00:00:00|
|6||2022-03-05 00:00:00||2022-03-18 00:00:00||2022-03-20 00:00:00||2022-03-24 00:00:00|
|7||2022-03-19 00:00:00||2022-04-01 00:00:00||2022-04-03 00:00:00||2022-04-07 00:00:00|
|8||2022-04-02 00:00:00||2022-04-15 00:00:00||2022-04-17 00:00:00||2022-04-21 00:00:00|
|9||2022-04-16 00:00:00||2022-04-29 00:00:00||2022-05-01 00:00:00||2022-05-05 00:00:00|
|10||2022-04-30 00:00:00||2022-05-12 00:00:00||2022-05-15 00:00:00||2022-05-19 00:00:00|
|11||2022-05-13 00:00:00||2022-05-28 00:00:00||2022-05-30 00:00:00||2022-06-02 00:00:00|
|12||2022-05-29 00:00:00||2022-06-10 00:00:00||2022-06-12 00:00:00||2022-06-16 00:00:00|
|13||2022-06-11 00:00:00||2022-06-24 00:00:00||2022-06-26 00:00:00||2022-06-30 00:00:00|
|14||2022-06-25 00:00:00||2022-07-08 00:00:00||2022-07-10 00:00:00||2022-07-14 00:00:00|
|15||2022-07-09 00:00:00||2022-07-22 00:00:00||2022-07-24 00:00:00||2022-07-28 00:00:00|
|16||2022-07-23 00:00:00||2022-08-05 00:00:00||2022-08-07 00:00:00||2022-08-11 00:00:00|
|17||2022-08-06 00:00:00||2022-08-19 00:00:00||2022-08-21 00:00:00||2022-08-25 00:00:00|
|18||2022-08-20 00:00:00||2022-09-03 00:00:00||2022-09-05 00:00:00||2022-09-08 00:00:00|
|19||2022-09-04 00:00:00||2022-09-16 00:00:00||2022-09-18 00:00:00||2022-09-22 00:00:00|
|20||2022-09-17 00:00:00||1931-09-01 00:00:00||Okt 2||Okt 6|
|21||Okt 1||Okt 14||Okt 16||Okt 20|
|22||Okt 15||Okt 28||Okt 30||2022-11-03 00:00:00|
|23||Okt 29||2022-11-11 00:00:00||2022-11-13 00:00:00||2022-11-17 00:00:00|
|24||2022-11-12 00:00:00||2022-11-25 00:00:00||2022-11-27 00:00:00||2022-12-01 00:00:00|
|25||2022-11-26 00:00:00||2022-12-09 00:00:00||2022-12-11 00:00:00||2022-12-15 00:00:00|
|26||2022-12-10 00:00:00||2022-12-24 00:00:00||2022-12-26 00:00:00||2022-12-29 00:00:00|
How Many Biweekly Pay Periods in 2023?
The total number of checks an employee will receive with the biweekly pay schedule 2023 or other years is 26. In general, an employee will get 2 checks every month but with the addition of 2 checks given in 2 months.
This might baffle some people because they equate this system with semi-monthly. A biweekly pay frequency is based on the numbers of 2 weeks in a year and there are 26 of 2 weeks.
The extra 2 checks can cause headaches in some companies with less steady profit. But as time goes by, many companies start to like it as it actually offers benefits compared to the weekly and monthly cycle.
Which Months Have 3 Pay Periods in 2023?
As stated above, an employee will receive 3 checks in 2 months under the biweekly cycle. The 2 months, however, can be any month depending on the specific schedule. Sometimes it could be March and July, another time, it could be July and December.
For example, if a salary is given on Friday every other week, and the pay date starts on January 13th 2023, an employee will be granted 3 checks in June and December. But if the salary is given on Tuesday, starting on January 3rd 2023, the 2 months with 3 pay checks are January and August.
Biweekly Pay Schedule 2023 Calendar Calculator
Calculating a salary given biweekly is actually not that difficult. In general, you only need to know your:
- Hourly rate
- The total hours you work in 2 weeks
Then you multiply the hourly rate and the total hours you work in 2 weeks to get the money you get per check. If you want to know your annual pay, you can multiply the pay check x 26. It’s basically (hourly rate x hours of work in 2 weeks) x 26.
But you can always use a biweekly pay calculator. Those online calculators are available on various websites. They can be your references when you start your small business. But it would be better if you created a specific program for your own company.
Biweekly Payroll Calendar 2023 Template
Here’s a basic template for biweekly pay schedule 2023.
|No||Work Period||Due Date||Pay Date||Notes|
The work period is the length of work done by an employee from a specific date to another date. It lasts of 14 days. The due date is a date for workers to claim insurance, benefits, or bonuses that have to be reported to HR. The pay date is when employees receive their salaries. And the last column is for specific notes that have to be understood by everyone in the office.
For the calendar version of the biweekly pay schedule 2023, you can see the example below.
ADP Biweekly Calendar 2023
Several websites like DOL (abbreviation for Department of Labor) and ADP provide a calendar that can be used by everyone. You can use those templates or choose the ones that we provide above, but the most important thing is to adjust it according to your own company’s needs.
An organized biweekly pay schedule 2023 is necessary to run your business without headaches. You can use a calendar or a schedule template in the form of a table. Employees will know exactly when the next due dates or when they will receive 3 checks. While employers will be able to anticipate their next expense to pay their workers.