The first thing that is needed to process payroll is to establish Pay Periods. Pay periods are an important part of organizing payroll within EBMS. A pay period consists of both the pay period’s ending date and the pay date. The pay period ending date is the last day of the pay period while the pay date is the day that the paychecks are printed.
EXAMPLE If the last day of the pay week is on Saturday and the paychecks are printed on the following Wednesday, the ending pay date for each pay period would be Saturday’s date and the pay date would be the following Wednesday’s date.
Unlike the checks within accounts payable where the checks can be processed with any date within the fiscal year, the paychecks must be dated with the pay period’s pay date. A pay period MUST be created before any timecards can be entered.