You have probably found yourself trying to figure out how the whole payroll cycle works at a new job. The details behind what days your paycheck covers can be found on your pay stubs. Pay stubs are usually generated by a Check Stub Maker and the dates and information can be found outlined on the slip.
For some people it can be very difficult to figure out what you pay stub is saying. Until you get the hang of how the pay cycle works it can be confusing. We are here to help you understand how the cycle works.
A pay cycle is the frequency that your place of employment disburses funds to their employees. This cycle is pre-defined by your employers and will not change once it is established. Depending on your place of employment, you may be paid weekly, bi-weekly, or monthly. Pay cycle is not something you will need to use for anything. The pay cycle is only for your knowledge to understand when and how often you will be paid.
The pay period is the more in depth version of the pay cycle. The cycle says how often it are paid whereas the pay period is the defined dates. If you are paid once a month on the 31st, you pay period would be the 1st-31st. If you are paid twice a month, or bi-weekly, your pay period may be defined as everything other Friday.
Why is this important?
Understanding what you pay stub is telling you is important for a few different reasons. If you understand what the numbers mean, you will be more capable of determining if you pay stubs has an error. It is not terribly uncommon for pay stubs to have errors on them. If you are unaware of what you correct pay stubs appears as, you will not be able to prove or determine that there is an error on your pay stubs.
In most instances, you are responsible for double checking your pay stub for accuracy. You business manager should quickly look over the stubs and they will usually catch any small errors, but there are going to be smaller errors that are still important that can be missed. You do not want to be cut short of the work that your performed for your company. It only takes a couple of minutes to double check your pay stubs for accuracy and address any issues that you may have with your place of employment.