Ensuring pay periods are properly configured and ease to modify are essential to maintaining payroll accuracy.  

Pay Period Configuration in Humanforce Cloud is now here, and it will soon replace existing functionality within Humanforce Backoffice. 

🔥 What’s New? 

Pay Periods can now be configured in Humanforce Cloud. Pay periods are generated in Humanforce Cloud to define pay cycles, support allocation to pay companies, and establish cycles such as weekly or fortnightly with designated start days, facilitating efficient payroll processing. 

⭐️ Why it matters 

Configuring Pay periods in Humanforce Cloud benefits organisations, workforce managers and payroll related teams. These include: 

Greater payroll confidence and accuracy: Many jurisdictions have specific legal requirements regarding payroll, including the frequency of payments (e.g., weekly, bi-weekly, monthly), minimum wage laws, overtime calculations, and record-keeping. Proper configuration of payroll periods helps ensure compliance with these regulations, reducing the risk of legal issues or penalties. 

Greater payroll management control and flexibility: Effective payroll period configuration streamlines payroll processing by establishing a consistent schedule. This consistency helps in automating payroll calculations, reducing the administrative burden on HR and payroll departments, and minimising errors. 

Improved financial Management: As payroll is often one of the largest expenses for an organisation, setting payroll period can significantly aid organisations in their management of cash flow and ability to set better budgets. In addition to this, Payroll period configuration also affects the calculation of taxes withheld from employee wages and the organisation's payroll tax obligations. Accurate configuration helps ensure the correct amount of taxes is collected and reported, minimising the risk of errors in tax filings and potential fines. 

🏁 Getting Started   

For more information on pay periods, how to enable access, locate pay period selections and either activate or deactivate a pay period, check out this Help article.