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3 Replies Last post: Mar 19, 2008 1:27 PM by Excellent

Why are there 24 pay periods in a year?

Mar 19, 2008 12:02 PM

Click to view Excellent's profile Mogul Excellent 46 posts since
Oct 12, 2007
Our company uses a payroll company to do our payroll and we're paid every 2 weeks. If there are 52 weeks in a year, why are there 24 pay periods, instead of 26?
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Click to view Iwrite's profile Mogul Iwrite 1,133 posts since
Dec 29, 2007
1. Re: Why are there 24 pay periods in a year? Mar 19, 2008 12:36 PM
Some companies pay weekly, others bi-weekly or bi-monthly. I have a friend who was even paid monthly. I thought this was always determined by the business owners as to how they were going to pay.

I have worked on two payroll companies accounts, they both offered companies the flexibility to select the pay schedule.

There are a lot of factors that can go into this decision. One of the reasons an accountant is a must!
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Click to view LUCKIEST's profile SCORE LUCKIEST 8,118 posts since
Aug 6, 2007
2. Re: Why are there 24 pay periods in a year? Mar 19, 2008 1:18 PM
Our company uses a payroll company to do our payroll and we're paid every 2 weeks.
Are you certain that you get paid every 2 weeks.
Like every other Friday?? That is 26 pay periods
Or Twice a month like the 15 and last day of the month?? That is 24 pay periods.
Everybody should know when they get paid and how often.
LUCKIEST
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Click to view Excellent's profile Mogul Excellent 46 posts since
Oct 12, 2007
3. Re: Why are there 24 pay periods in a year? Mar 19, 2008 1:27 PM
in response to: LUCKIEST
It's twice a month, the 15th and 30th (or 31st) of the month. I guess I was looking at it differently because it seems like every 2 weeks.
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