Entrepreneurship & Small Business

Monthly Remitter but pay by-weekly, what to do about the extra 2 pay periods?

  • Last Updated:
  • Jul 31st, 2018 3:54 pm
[OP]
Deal Addict
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Jun 24, 2015
1334 posts
180 upvotes
Woodbridge, ON

Monthly Remitter but pay by-weekly, what to do about the extra 2 pay periods?

I pay my employee every 2 weeks, which is 26 pay checks in a year, I remit monthly, so that is for every month, I remit the last 2 pay periods, but there is going to be 2 months where I have to remit an extra week, so 10 months will be 2 pay periods and 2 months will be 2.5 pay periods which works out to 26. how do you determine which months to make 2.5? i set up a calendar schedule manually in excell, and try to align closely with the pay period dates but its hard, some do not align so i went as close as possible. how do the rest of you do it? do you have some kind of template? or some formula?
Hi
1 reply
Deal Addict
Mar 16, 2015
1304 posts
165 upvotes
Winnipeg
I dont know how are you doing your calc
If you are a monthly remitter , following is what it means
When you pay your employee ( The date of payment is important) , for the payments made from 1st of every month till last day of each month, you need to remit the deducted amounts by 15th of next month. so no matter how many times you paid from 1st till last date of the month, you will remit by 15th of next month.

Whats confusion?

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