3 THINGS TO KEEP IN MIND FOR LEAP YEAR PAYROLL
You might not think adding an extra day to the calendar in 2020 would be much of a big deal … until you consider the payroll implications.
Depending on when employees in your organization get paid, there may be an extra pay period or paycheck in 2020.
Even in non-leap years, if employees get paid weekly or every other week, there are usually additional paydays. But a leap year can compound those days.
Quick calendar lesson: In a 365-day year, six days happen 52 times, and one day happens 53 times. (For instance, in 2019, there were 53 Tuesdays.) In a leap year, there are two days that happen 53 times. (In 2020, those two days will be Wednesdays and Thursdays.)
So, if your organization’s payday is on Wednesday, Jan. 1, 2020, or Thursday, Jan. 2, 2020, you may need to make adjustments.
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