Biweekly Pay Meaning | What is Biweekly Pay in Payroll?

What is Biweekly Pay?

Biweekly Pay is a payroll schedule when a company pays its employees on a weekly basis on a specific date. The schedule is defined by the corporate since the calendar has 52 weeks in a year, sometimes employees receive 26 paychecks per year, which works bent be every other week.

Biweekly pay is used in industries like the Hospitality, Education sector, Health sector, Manufacturing, etc.

Benefits Of Biweekly Pay:

The Biweekly payment schedule helps employees to manage their expenses in a better way.
It helps to feel more secure as they receive partial amounts.
It also helps the employer to save lots of time in calculating the payroll.
It helps to reduce the chances of payroll errors.
It can help to even out the employee’s cash flow.
It can help to make budgeting and forecasting a bit easier.

Also, See: Variable Pay | Severance Pay