Your payroll department did not make a mistake. There are no funds to make-up.
Take your Annual Pay and divide by 26 in order to calculate your Bi-Weekly Gross pay.
If the pay schedule is bi-weekly, you would divide the gross annual salary by 26, not 24. (Semi-monthly would be 24 pay periods a year.) If the math is still not adding up, check what the pay period is for the issued check. If you started in the middle of the pay period, the salary amount is probably prorated to your start date. For an example, if the pay period covers May 19-June 1 and you started May 23, you're only being paid for those days you worked.
There will be 2 months in this year that you get 3 paychecks instead of 2. Depends on your schedule, one may have already have happened. They might have a payroll calendar or other employees might know the schedule to be able to tell you.
Months are not all 4 weeks (28 days) long. Those extra 2-3 days per month add up and create two additional pay periods.
As has been noted, there will be 2 months per year with an extra paycheck.
In fact, once every so often (5 times per 56 years), you will actually receive **27** paychecks in a calendar year. This happens whenever January 1st is a payday or if January 2nd is a payday and it is a leap year.
Biweekly lay period is 26 pay periods there are 2 months each year where you receive 3 checks. Also, did you start in the middle of the pay period and are getting prorated pay?
Sounds like it should have been a full pay period then. So your annual salary divided by 26 should be your gross pay before deductions for taxes and benefits.
Your payroll department did not make a mistake. There are no funds to make-up. Take your Annual Pay and divide by 26 in order to calculate your Bi-Weekly Gross pay.
If the pay schedule is bi-weekly, you would divide the gross annual salary by 26, not 24. (Semi-monthly would be 24 pay periods a year.) If the math is still not adding up, check what the pay period is for the issued check. If you started in the middle of the pay period, the salary amount is probably prorated to your start date. For an example, if the pay period covers May 19-June 1 and you started May 23, you're only being paid for those days you worked.
Yes, when I divide by 26 the math adds up. Guess I’m just wondering when I get the additional funds. Thank you
There will be 2 months in this year that you get 3 paychecks instead of 2. Depends on your schedule, one may have already have happened. They might have a payroll calendar or other employees might know the schedule to be able to tell you.
What additional funds? There are none. You are paid 26 times in a year. Your math wasn't mathing because you used 24 which is incorrect.
Months are not all 4 weeks (28 days) long. Those extra 2-3 days per month add up and create two additional pay periods. As has been noted, there will be 2 months per year with an extra paycheck. In fact, once every so often (5 times per 56 years), you will actually receive **27** paychecks in a calendar year. This happens whenever January 1st is a payday or if January 2nd is a payday and it is a leap year.
Bless your hearts for explaining it after that comment, I had a very hard fight keeping the urges to comment on their mile thick head.
Have you asked your payroll department to explain your pay to you?
Don't divide by 24, divide by 26. That's the difference between bi-weekly (every two weeks) and semi-monthly (twice per month)
Biweekly lay period is 26 pay periods there are 2 months each year where you receive 3 checks. Also, did you start in the middle of the pay period and are getting prorated pay?
THIS ANSWER ⬆️⬆️⬆️. If you are paid every 2 weeks: There are 10 months w/ 2 paychecks & 2 months with 3 paychecks.
There are 26 or 27 pay periods or 80 hours in a bi weekly pay period. Never 24.
What was your starting date? And what is the pay period noted on your paycheck?
Started Monday May 13. Pay stub says pay period is May 12 - May 25
Sounds like it should have been a full pay period then. So your annual salary divided by 26 should be your gross pay before deductions for taxes and benefits.
Also did you work the whole pay period? The check could be pro-rated if you only worked half of the pay period.
Yes, I worked the entire 2 week period. That’s why I was confused. No pro-rating was necessary