Some employees prefer a weekly payroll compared to bi-weekly one. But then it seems such practice may not be advantageous to businesses. Businesses are urged to consider all aspects before making the big switch.
One of the most noted benefit of bi-weekly is that tracking of employee's pay is relatively easy. Just imagine the workload that is being lifted off to the payroll team as compared to weekly payroll computation. The same holds true for computing deductions, as the payroll team need not to worry about taking out those deductions on a weekly basis. It can be quite tedious doing such work every week.
WEEKLY
Bi-weekly payroll allows more time the payroll team to process money. That also means that it allows more time for corrections and adjustments to be made before the money is due.
Aside from the benefits mentioned above, a bi-daily payroll is easier to control compared to a weekly payroll, more so if the business organization has a sizeable number of employees. The longer time allotted time to process the payroll the easier it is to make adjustments and less prone to miscalculations and figure inconsistencies and above all less time consumed asking employees inquiries regarding money. Human errors have a place in this type of salary processing as this is an in-house or the traditional payroll team. Just imagine the lesser time consumed by the in-house payroll team by simply following the bi-weekly payroll.
Bi-daily payrolls have their place in the business world. It can make things much easier to manage, especially for a large corporation. Although there are drawbacks to a bi-weekly payroll, most of those drawbacks are on the employee's end of the payroll. If you want to manage your payroll better, a bi-weekly plan is a good place to start.
There is no question that bi-weekly money is the better option business owners can have. It simplifies the complex payroll calculations and adjustments of medium to large scale businesses. Though there are still down lows with this method, for a more effective payroll processing though, businesses can choose payroll service providers to take care of all their money worries.
Bi-Weekly Payroll Advantage WEEKLY
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