Definitive guide to Explaining Paydates
Types of Pay
Types of Employee Pay type, each have sub divisions:
- Salary Employee :
- Daily
- Bi-Monthly
- Monthly
- Yearly
- Hourly Employee :
- Weekly
- Bi-Weekly
Date Definitions
Hired Date: The day you got the job at your current company. This is used to calculate your Year To Date (YTD).
Start Date:
Pay Period Start Date: The day that your pay period starts, which depends on your company.
- Weekly - is usually a Monday, but not mandatory
- Bi-Weekly - is every other Monday, but not mandatory
- Monthly - first day of month, no matter which "day" it is.
Pay Period End Date: The last day of the pay period.
- Weekly -
- Bi-Weekly -
- Bi-Monthly -
- Monthly -
Pay Date: The day that you actually receive the funds, either Check, or mail, direct deposit, or Cash. Usually this date falls on the day after your pay period or, the beggining of the next pay period. But, this depends on the HR team at your place of employment.
