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What Is Payroll Cycle? |
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Answer» This is the PERIOD against which employee is to be paid. Usually, calendar month is CONSIDERED as payroll cycle. However, for convenience of collection of payroll inputs, computation, and payout, organizations sometimes define payroll cycle differently. 1 Jan 2013-31 Jan 2013, 26 Dec 2012- 25 Jan 2013, 15 Dec 2012-14 Jan 2013 are examples. In all these CYCLES, payroll processed is termed as Jan 2013 Payroll. This is the period against which employee is to be paid. Usually, calendar month is considered as payroll cycle. However, for convenience of collection of payroll inputs, computation, and payout, organizations sometimes define payroll cycle differently. 1 Jan 2013-31 Jan 2013, 26 Dec 2012- 25 Jan 2013, 15 Dec 2012-14 Jan 2013 are examples. In all these cycles, payroll processed is termed as Jan 2013 Payroll. |
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