Payroll Posting

Payroll Posting

Payroll expenses are recorded to your financials with a transaction posting date as of the last day of the pay period worked, not the day employees are paid. This is consistent with accrual based financials.

• Social Good Fund operates on a biweekly payroll schedule, resulting in 26 payrolls each year.

• Each payroll is posted with a transaction posting date as of the last day of the pay period, not the pay date. That transaction posting date will always be a Sunday, which is the last day of our pay periods on a biweekly schedule.

• The pay date is always on the Friday directly following the last day of the pay period (the Sunday mentioned above). This will be the day that ACHs will land in employee bank accounts.

Three-Payroll Months

• Two months out of the year, there will be 3 payrolls posted.

• This is a normal outcome of the biweekly payroll cycle and should be considered when reviewing monthly expenses and budgeting.

Year-End Catch-Up Payroll

• There are 26 payrolls each year, with 1 special catch-up payroll at year end to fix any errors that may need to be fixed from omissions throughout the year.

• When applicable, this Year-End Catch-Up Payroll ends up being the 27th payroll of the year.

• You will only see this additional payroll posted to your financials if you had employees who needed corrective actions taken to remedy payroll issues not previously addressed in the current calendar year.