To work out the appropriate time frame, the company will estimate the time needed for each step. This is illustrated in the example below:
| Steps |
Days Needed |
Date |
| Information Cut-off |
|
|
| Process Payroll |
2-3 Working Days |
|
| Generate Payroll Reports |
1 Working Day |
|
| Approval Process |
1-2 Working Days |
|
| Process Salary Credit & Payslips |
1 Working Day |
|
| Bank Processing Date |
2 Working Days |
|
| Payday |
|
28th |
After determining the time needed for each step, the company will be able to set the information cut-off date. For planning, it is recommended that the company should take into consideration weekends and public holidays. This is illustrated in the example below:
| Steps |
Days Needed |
Date |
| Information Cut-off |
|
12th |
| Process Payroll |
2-3 Working Days |
17th |
| Generate Payroll Reports |
1 Working Day |
18th |
| Approval Process |
1-2 Working Days |
20th |
| Process Salary Credit & Payslips |
1 Working Day |
24th |
| Bank Processing Date |
2 Working Days |
25th |
| Payday |
|
28th |
If you would like to learn more about how PayrollServe can help, please contact us.
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