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Off-cycle payment
"Off cycles", occur when payments are processed outside of the regular payroll cycle.
Off-cycle payments, or "off cycles", occur when payments are processed outside of the regular payroll cycle. Bonuses and commissions sometimes fall in off-cycle payments; retroactive pay increases can also be done off-cycle. A final check for a terminated employee may be processed off-cycle as well.
Related Glossaries
Payroll Taxes
Payroll taxes are mandatory contributions that employers and employees must pay to the government based on wages or salaries.
SWIFT
SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication.
IBAN
IBAN is an acronym for International Bank Account Number.
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