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GXWILLIAMS

  • Posts: 2
Monthly or weekly pay for employees?
« on: January 31, 2017, 01:50:39 pm »
Hi Guys
I've been paying weekly for years and now thinking about switching to monthly.

Was thinking about having a cut off day each month..... maybe 25th and payment day on 28th each month
This would allow a couple of days to calculate the wages they are due.
Anyone else do this? or have a better option?

NWH

  • Posts: 16952
Re: Monthly or weekly pay for employees?
« Reply #1 on: January 31, 2017, 02:24:23 pm »
I used to do it weekly but monthly is better depends on your cash flow situation,when it's weekly your forever sorting out wages coz it comes round so quickly.

GXWILLIAMS

  • Posts: 2
Re: Monthly or weekly pay for employees?
« Reply #2 on: January 31, 2017, 04:09:22 pm »
12 pay days to calculate,  rather than 52 is a whole lot less work  ;D

SB Cleaning

  • Posts: 4336
Re: Monthly or weekly pay for employees?
« Reply #3 on: January 31, 2017, 04:17:12 pm »
Mine gets his paid monthly...

It would be far too much hassle weekly...He gets paid on the 26th every month.

AuRavelling79

  • Posts: 26561
Re: Monthly or weekly pay for employees?
« Reply #4 on: January 31, 2017, 05:31:34 pm »
I used to pay Dan the Man on the 25th or if it fell on a weekend or bank holiday then the Friday before. Bonuses were paid on the 25th after the quarter in which they were calculated.


So let's say he is owed £1, 500 for the month of January then he gets paid that on the 25th along with say his £200 - £400 bonus for the quarter ended 31st December.
It's a game of three halves!

Matt.

  • Posts: 1836
Re: Monthly or weekly pay for employees?
« Reply #5 on: January 31, 2017, 06:01:06 pm »
I also used to pay weekly, cleaners are now paid fortnightly and window cleaners are paid monthly, I use the last Friday of the month as the cut off day.