 In this presentation, we will discuss payroll periods and timeframes. When we consider payroll, we're going to have different types of timeframes, different types of times that people will be paid given different companies. So in other words, it's up to us to make the choice as to how often we pay our employee, when are the employees going to be paid. This is a decision where once made, we then just apply the same principle. We're going to be consistent with that one principle, whatever that pay period is. If we work within a particular company, then we're just going to get used to the payroll cycle once implemented and work with it. If we work as a payroll professional, however, then we may be working with different companies and they may have different needs and may be implementing different types of payroll periods. So it's important to understand payroll periods in general. So when we go from different types of payroll applications, different types of companies, we know that they're going to have different types of payroll periods. And once we do work in the company, we will then of course specialize in some way knowing the system that we are working in. So one would be to be paid monthly. So if we're paid monthly, then we're going to have every month of a payment. And there's going to be 12 pay periods because of course there's 12 months. So monthly is going to be an easier pay rate because there's only 12 pay periods, we can break it up fairly, fairly easily. However, most of the time employees would like to get paid more often than monthly, oftentimes. So we could have weekly, which is kind of the other extreme. And weekly is going to be, of course, every week. And that would mean that there's going to be 52 pay periods because there's 52 weeks in the year. Note that that number is unlike the months of 12, a number that possibly not everybody knows offhand how many weeks are in the year. Something for payroll, probably worth memorizing. So how many weeks are in the year? 52, generally. And then we have the other two, which are usually the more confusing because oftentimes we get paid every other week or so, or biweekly. So biweekly means that we're getting paid every other week. And so that's going to be 26 pay periods. So you might say, hmm, 26. That looks a little funny. Like where does that number come from? 26 pay periods. If we paid because you would think possibly that it would be 12 times two, which would be 24 pay periods because there's 12 months in the year. And we're paying you would you would think about twice a month, right? So be about 24. But it's not, it's 26. And that number comes from saying 52 weeks in a year divided by two. So 26. So what you really want to do is memorize these two or the way I do it is I memorize these two. And then when I get to biweekly, I'd say, well, what does that mean? That's that's in essence going to take the weekly amount and divided by two to get to the 26. Whereas if I pay semi monthly, you can think of something like on the 15th or the 30th of the 31st. So I pay in the middle of the month and the end of the month, in other words, then that's slightly different than paying biweekly. That means you're being paid twice a month, no matter what, which is going to be 24 pay periods. So when we pay, in other words, biweekly, every other week, because there's different amounts of days in each month, then we could have some months that have three pay periods possibly. And that that would line up to having two more pay periods within the year. Whereas semi monthly, we have a significant amount really of less pay periods. So if we paid two times a month, no matter what, in the middle of the month and the end of the month, then I would think of that as really two times a month is of course going to be 12 times two or 24. So the way I would remember this is, you know, monthly is of course 12 pay periods. And this is important by the way, because we will be using these pay periods when we start to calculate things like hourly rate and payroll rates. So so I would think of this as, you know, monthly, of course is 12 months, pretty straightforward, no problem. Weekly, we have to start to memorize that there's 52 weeks in a year, 52 pay periods, if we pay weekly, biweekly then means we're paying every other week. It doesn't necessarily mean we're paying twice a month. What it means is that we're taking the 52 divided by two to get to the 26 pay periods. Whereas if we pay semi monthly, then we're paying two times a month, no matter what. So that means we're going to take the 12 months times two gives us the 24. So just this is where the problem usually lies. Are we doing biweekly, semi monthly, they're not the same. I just and I would use the monthly and weekly as as the check to memorize the two numbers. I don't memorize these two numbers. I say semi monthly is monthly times two, I say biweekly is 52 weeks divided by two. So once we have that some key numbers that you really want to memorize, then as we go through payroll, it's just numbers that you should kind of have in mind is one, there's 365 days in a year. Now, again, note that, you know, there's a leap year and whatnot, but we're going to go with 65 days in a year. And that's different than some of the rounding we've used in in like if we do some type of calculations for interest types of calculations, we may use some estimates. In other words, sometimes there's estimates that we could say 12 months times about 30 days in a month, even though there's 31, there's, there's could be 30, there could be 28. But we that would be about 360. But to be exact, to be more exact, there's there's 365 generally in a year. So we just want to know when doing payroll, we need to be more exact. So we typically would say we want to just know that number 365 days in a year, biweekly pay periods 26. Again, we don't really need to just memorize that. We could take the 52 divided by two to get to the 26 weeks in a year should be weeks and week in a week's in here, it's going to be 52. And that's when you just want to memorize. So you just want you just got to know that 52 weeks in a year might not be as common for a lot of people to know how many weeks are in a year, but 52 52 weeks in a year. And then the semi monthly pay period is 24. Again, I wouldn't just memorize that, but you need to be aware of that number. It's a payroll number, you just got to know semi monthly. Again, how would I get there 12 months times to biweekly 52 weeks divided by two, semi monthly 12 months times to 26 versus 24, very productive payroll paid off. Goodbye.