Payment Periods

How to change payment period settings for payroll generation

Jasmine avatar
Written by Jasmine
Updated over a week ago

Summary

By default, Payboy's payroll software generates payrolls on a monthly basis and sets the payment period on the last day of the month. However, if you would like to split the month into smaller payroll periods, or change the date on which employees are paid, our software allows you to do so. This guide will teach you how!

(Note: Should you remove or edit the payment periods, this will change the dates reflected when generating payroll)


Accessing payment period settings

  • From the side menu, go to Payroll > Payment Periods

  • You will be directed to the following page. Here, you can hover over the "?" icon and you will see prompts for how the user interface works

  • There are 3 main functionalities available:
    1. Shifting a payroll period
    2. Creating or recombining new payroll periods
    3. Changing payment dates


Shifting a payroll period

  • You can drag the blue columns of either the First day of the payroll period or the Last day of the payroll period in order to move the entire period forward or back by a maximum of 15 days


Creating/recombining a new payroll period

  • By clicking the blue "+" icon, you can add an additional payroll period 

  • A new marker will be placed which marks the end of the preceding payment period and the start of the new one within the span of a month)

(Note: In this scenario, clicking on both the + icons will create 2 more payment periods, which would make a total of 4 payment periods within the 31-day period, each one 7-8 days long)

  • Clicking the blue "x" icon deletes the marker and merges the two adjacent payment periods back together

  • Once a new payment period is created, you will be able to generate payrolls specific to those periods when going to Payroll > Generate payroll. You will still be able to generate an overall payroll for the month if you wish. Should you remove or edit the payment periods, this will change the dates reflected when generating payroll.


Changing payment date

  • You can also drag the blue "$" icon in order to change the payment date. This is the date that will be reflected as the Value Date on the GIRO Submission file. It can only be set within a range of -7 days before to +7 days after the selected payment period
    (e.g. for a payment period of the 10th - 20th, the payment date can be set anywhere from 3rd to 27th of that month)


Feel free to contact us if you face any difficulties through the support chat icon on the bottom right of the screen or email support@payboy.biz. We will get back to you within 3 working days.

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