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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
IBAN
IBAN is an acronym for International Bank Account Number.
Payslip
A pay slip is an official document provided by an employer to an employee, detailing the employee's earnings and deductions for a specific pay period.
Statutory Costs
Statutory costs refer to the expenses that a business is legally required to pay under national or regional laws and regulations.
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