They mentioned in the meeting that 1 other person complained about the pay reduction. Hard to believe only 2 complaints out of 70+. These crooks must feel like they are living right.
27 pay periods in 2010 if you are paid biweekly on Fridays
- Thread starter Cie
- Start date
They mentioned in the meeting that 1 other person complained about the pay reduction. Hard to believe only 2 complaints out of 70+. These crooks must feel like they are living right.
Dude..............You're fucking kidding me on this shit right?????
First of all you get paid bi-weekly meaning every two weeks on a Friday. This also means you are paid current to days worked, meaning you get paid for 80 hours a check no matter if you worked your full 80 hours and required adjustments such as time off without pay are recovered post period. In other words your pay is adjusted on the following check. Therefore, you are paid to date. If you got fired on Friday you would not receive another check. Now depending on the cyclic nature of your bi-weekly paychecks I guarantee you that you will receive your exact salary every year regardless of number of checks. The reason you are paid on the 31st is because banks cannot receive direct deposit on holidays thus you would have been paid late, however if the first is a friday and it is a holiday, that days pay will NOT show up on your W-2. Look at your paycheck on the 15th and the YTD will reflect two weeks and one day as you are paid current. The only thing that the extra check affects are if you are on a flex benefit plan or a percentage contribution to your 401k.
It cannot be overstated. You are paid to current date, period. They do not pay you for days that don't exist nor do they reduce your base salary in an effort to get an extra check in. Take a minute and actually look at your paychecks for a year and try not to go back into HR bitching anymore. You aren't being shorted. Imagine that you are getting a biscuit a day for every day you work. You can only earn 365 biscuits in any given year.
Hope like hell that helped cuz you are buggin about nothing. It actually helps you on your 401k if you have one as you are gaining fourteen whole days extra interest.
FDC
First of all you get paid bi-weekly meaning every two weeks on a Friday. This also means you are paid current to days worked, meaning you get paid for 80 hours a check no matter if you worked your full 80 hours and required adjustments such as time off without pay are recovered post period. In other words your pay is adjusted on the following check. Therefore, you are paid to date. If you got fired on Friday you would not receive another check. Now depending on the cyclic nature of your bi-weekly paychecks I guarantee you that you will receive your exact salary every year regardless of number of checks. The reason you are paid on the 31st is because banks cannot receive direct deposit on holidays thus you would have been paid late, however if the first is a friday and it is a holiday, that days pay will NOT show up on your W-2. Look at your paycheck on the 15th and the YTD will reflect two weeks and one day as you are paid current. The only thing that the extra check affects are if you are on a flex benefit plan or a percentage contribution to your 401k.
It cannot be overstated. You are paid to current date, period. They do not pay you for days that don't exist nor do they reduce your base salary in an effort to get an extra check in. Take a minute and actually look at your paychecks for a year and try not to go back into HR bitching anymore. You aren't being shorted. Imagine that you are getting a biscuit a day for every day you work. You can only earn 365 biscuits in any given year.
Hope like hell that helped cuz you are buggin about nothing. It actually helps you on your 401k if you have one as you are gaining fourteen whole days extra interest.
FDC
This thread is still active?
2009 Pay Period "Leap Year" - How Will You Deal with an Extra Pay Period?
Thursday January 8, 2009
Every so often, the calendar causes us to have to watch what we are doing. This year, 2009, some employers will have to deal with an extra pay period, if they pay on a bi-weekly basis. How does this happen? If you pay every other Thursday, you will have 27 periods in 2009. Or, if you pay on Fridays and you pay the day before a holiday you will also end up with 27 pay periods, because Christmas falls on a Friday.
So if you started counting and figured out that you will be paying salaried employees over 27 pay periods in 2009, you probably realized that, if you do nothing different, you will be paying them more in 2009 than you might have intended. So what do you do?
The American Institute of Professional Bookkeepers (AIPB) has some suggestions:
Option 1: Divide the total salary among the 27 pay periods rather than 26. This will result in smaller amounts in each paycheck. if you want to do this, be sure to inform your employees, so they don't complain.
___________________________________________
Somehow I'm thinking that the people at the American Institute of Professional Bookkeepers is going to know their numbers a bit better than you are.
2009 Pay Period "Leap Year" - How Will You Deal with an Extra Pay Period?
Thursday January 8, 2009
Every so often, the calendar causes us to have to watch what we are doing. This year, 2009, some employers will have to deal with an extra pay period, if they pay on a bi-weekly basis. How does this happen? If you pay every other Thursday, you will have 27 periods in 2009. Or, if you pay on Fridays and you pay the day before a holiday you will also end up with 27 pay periods, because Christmas falls on a Friday.
So if you started counting and figured out that you will be paying salaried employees over 27 pay periods in 2009, you probably realized that, if you do nothing different, you will be paying them more in 2009 than you might have intended. So what do you do?
The American Institute of Professional Bookkeepers (AIPB) has some suggestions:
Option 1: Divide the total salary among the 27 pay periods rather than 26. This will result in smaller amounts in each paycheck. if you want to do this, be sure to inform your employees, so they don't complain.
___________________________________________
Somehow I'm thinking that the people at the American Institute of Professional Bookkeepers is going to know their numbers a bit better than you are.
Saint - that is for 2009 - not relevant
FDC - he has a complaint. Normally what you said would be true, but his company isn't paying it out that way.
He is getting 27 payments in 2010 but it is for 2010 plus 2 weeks from 2009. No big deal, except they are reducing the pay per check. Cie is getting screwed.
I'm sure sounding like the payroll clerk BBC is making me out to be, but hey, numbers don't lie. Just the politcians that use them.
FDC - he has a complaint. Normally what you said would be true, but his company isn't paying it out that way.
He is getting 27 payments in 2010 but it is for 2010 plus 2 weeks from 2009. No big deal, except they are reducing the pay per check. Cie is getting screwed.
I'm sure sounding like the payroll clerk BBC is making me out to be, but hey, numbers don't lie. Just the politcians that use them.
the article you are quoting speaks wholly to salaried employees and is not inclusive of those paid hourly and if you are speaking to me about the institute of PB's it is their job to know numbers and direct employers to an amicable solution to dealing with their salaried employees and consists of a large number of Bookkeepers that are paid to do exactly that but being a person the knows numbers as well as I do I can assure you that they do not all singularly have a better grasp of numbers than I do and to make such a statement is irresponsible as I am sure there are some there that are no better at deductive reasoning than the people that quote their body of work as a whole.
You are right in that the 1/1/10 check will in essence be "under paying" you because it was for work done in the last 2 weeks of 2009. But, your first check in 2011 will be for work performed in the last two weeks 0f 2010 when you get 27 pay periods, so it will actually be "over-paying" you for those last two weeks in December this year. It all evens out
You are right in that the 1/1/10 check will in essence be "under paying" you because it was for work done in the last 2 weeks of 2009. But, your first check in 2011 will be for work performed in the last two weeks 0f 2010 when you get 27 pay periods, so it will actually be "over-paying" you for those last two weeks in December this year. It all evens out
Not if that 12/31/2010 check is for the last 2 weeks of 2010. He is getting :142hump:
I just found out that there is an "American Institute of Professional Bookkeepers (AIPB)." Seems like you are all getting a voice.
40 hours over budget for Accrued Payroll during Champion's audit and now look at you. . . brings a tear to my eye.
When are Watermelon Days? We need to get Joshua and go back for a reunion. We use to make fun of Rich Simmons but now that I'm in that same position at a fledgling company, I feel for him.
Still don't give 2 shits about that warehouse asshole that called you ratting me out for actually making them count stuff at that inventory. If I'm going to be in a hell hole for the national championship game, ass hats like his employees better be able to count obsolete carburetors in a bin.
In the accounting world, bookkeepers are kinda like the dentists of the medical world. Obviously they belong and they have their role, but they should listen and not be heard.
Cie - w/o seeing a paystub and a ee handbook, I don't think I'd know for sure if you're getting screwed, but if the guy you talked to said that you are - I'd believe him. It's how bad you want to bend over. If you're making as much as you'd make to transfer, it's not worth it. Just work 3.8% less.
It doesn't matter if it's 1945 the point is that there are 27 pay periods in the year :sadwave:
coming from an insurance agent :mj07: oh wait, former insurance agent. Real fulfilling.
I'm glad hippo let you out of your cage far enough to reach the keyboard tonight.
Poon,
First, let me just say that Illinois let us down and I have all the respect in the world for you. Excellent poster and capper. That being said, Cie is not exactly articulating what is actually happening. He is saying that 2 weeks of his pay is from 2009 and being paid in 2010, if I am to understand his post correctly, and that is simply not true. He is paid to current day and what he is seeing on his pay stub are the hour adjustments made to his check from his prior pay period. Since he is paid to actual date, all adjustments or lost time must be recouped through recalculation of his prior period and it will show those dates and hours on his check that is dated for 2010. That accounting for time is not reflected in his 2010 W-2. It is simply a bookkeeping courtesy to the employee. On a leap year the employee is paid for hours worked and no more or no less. I don't work for the American Institute of Bookkeepers but in my experience of more than 21 years as a Union mediation, arbitration and contract negotiation this is a subject that I am all too familiar with. If you get a paycheck on September 2, 16th, and 31st what days are you getting paid for and how would it reduce your gross pay. The first check will cover your pay for August 20th through the second with your second covering the 3rd through the 16th and last the 17th through the 31st. That is 3 checks in one month but none are lessened. I know that it seems like that in the beginning of the year when it is showing dates that are from last year but that is all that it is. I guarantee his gross is no less or more than agreed upon and no less than last year provided he on the same pay scale. Interesting topic and a very difficult one to explain but he has to remember that he is paid current or to date. What he is seeing is recovery adjustment and that is it.
Hope this helps,
FDC
The :sadwave: guy is relevant on two levels here. One for Cie's pay :sadwave: and the other for your math skills/general competence :sadwave: .
Don't know why but I'll try to help you here. He is getting paid 27 times, you are right about that. Gold star for ya bud. The issue is that he is getting paid for more than 1 year of time for those 27 pays. He is getting screwed out of 2 weeks of pay due to the fact they reduced the pay level. They reduced his 1/1/2010 check when they shouldn't have.
1. I posted a source online from an organization involved with accounting stating that in a year with 27 pay periods the paychecks are lowered to account for the extra pay period
2. That post was called out because it referred to 2009 and not 2010
3. The point is that regardless of what year we are talking about, if there are 27 pay periods it is correct to lower the pay over the course of the extra check
4. The year is irrelevant. There can be 27 pay periods in many years depending on the day of week checks are disbursed.
Duh
