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How to pay catchup from changing payroll frequency from biweekly to semimonthly

Hey team,

 

I'm in the process of switching from biweekly payroll to semimonthly. The actual change is simple, but I was wondering what should be done about the "catchup" that I need to now pay my salaried employees.

 

We have yet to hit a month where three checks went out, so the overall payout from biweekly pay is much less than it would have been under semimonthly checks, so I owe my employees an extra payment to offset the difference. I was thinking of adding on a one-time benefit to the next pay period that catches them up to where they should be, but was not sure if this was the right way to do this (likely not as a bonus because those have different tax rates). What's the best way to achieve this in QBO?

 

Thanks all