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How are pay schedules calculated?
How are pay schedules calculated?

See how payment amounts are calculated for different types of pay schedules.

Updated over a week ago

Plane's pay schedule calculation methodology takes into consideration what's most commonly used and what is most intuitive, with a goal of preventing fluctuations in payment amounts due to quirks of the calendar (i.e. the number of total work days in a calendar year and in a given month of a year naturally varies depending on the year and/or month).

Pay schedule calculations as of Nov 1, 2021:

Wage Type

Pay Frequency

Amount Calculation

Annual

Monthly

wage / 12

Annual

Semi-monthly

wage / 24

Annual

Bi-weekly

wage / 26

Annual

Weekly

wage / 52

Monthly

Monthly

wage

Monthly

Semi-monthly

wage / 2

Monthly

Bi-weekly

wage × 12 / 26

Monthly

Weekly

wage × 12 / 52

Weekly

Monthly

wage × 52 / 12

Weekly

Semi-monthly

wage × 52 / 24

Weekly

Bi-weekly

wage × 2

Weekly

Weekly

wage

Daily

Monthly

wage × 5 × 52 / 12

Daily

Semi-monthly

wage × 5 × 52 / 24

Daily

Bi-weekly

wage × 10

Daily

Weekly

wage × 5

💡 Please note: For Hourly wage types, administrators need to enter the hours worked into the payroll run for each period before the payroll deadline. Plane will send administrators email notifications if the hours haven't been added as the deadline approaches.

Questions? We’re here to help! You can find more of our guides here, reach out to us at support@plane.com, or use Plane's in-app chat.

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