Payday is the date on which employees are scheduled to receive paychecks. It is typically several days after the close of a pay period, so that the payroll staff has sufficient time to compile wages and calculate deductions and net pay. For example, if an employer has a weekly pay period that ends on a Saturday, the associated payday may be on the following Tuesday.

Related Courses

Human Resources Guidebook 
Optimal Accounting for Payroll
Payroll Management