What Is Biweekly Pay?

Biweekly pay is a payroll method that provides employees with compensation every two weeks. Bi-weekly pay typically uses a set schedule, with each payday being on the same weekday each pay cycle. Most companies use Friday as their biweekly paydays, but you can use any other weekday to process payroll.

What are the benefits of bi-weekly pay?

The main benefit of bi-weekly pay is that many professionals consider frequent paychecks a measurable perk. This will allow them to plan their finances more efficiently and maintain a higher degree of financial mobility. As a result, your staff will be able to manage emergencies more effectively.

In this regard, biweekly paychecks are superior to traditional monthly pay. However, weekly pay can be even better for some professionals.

What are the disadvantages of biweekly pay?

The main drawback of biweekly pay is that your business will have to process more paychecks. With monthly payments, you’ll only have to deal with 12 transactions per year. Bi-weekly paychecks, on the other hand, will involve 26 yearly payments—more than double that of monthly payroll.

How to manage biweekly payroll in your business?

To manage biweekly payroll effectively, you should use a productivity app with a built-in payroll management tool. Apps like WebWork offer powerful Payroll Tracking functionality that will greatly simplify your management work. You’ll even be able to send payments directly in the productivity suite with its Invoicing feature.

Are biweekly pay and semi-monthly pay the same?

No, biweekly payroll and semi-monthly pay are different. While they’re quite similar, semi-monthly pay uses two predefined monthly dates as its paydays. Moreover, semimonthly pay involves 24 yearly paychecks, while biweekly pay has 26 of them.