It’s no secret that the payroll experience can be a challenge at the best of times–particularly when running a global operation. So many bits of information to keep track of, update and reconcile. It’s enough to make the blood run cold.
But fear not. Here at Multiplier, we’re always on the hunt for new ways to make our customers’ lives easier. That’s why we’ve come up with something to help make the payroll processing journey silky smooth.
That’s right, we’ve extended the payroll cut-off date from the 10th to the 15th of every month. Release the balloons! Set off the fireworks! No?
OK, we appreciate that it might sound slightly technical, but we’re confident this new capability can help in a big way. Here’s how.
So how does it work?
Multiplier uses cut-off dates to lock-in changes and ensure the correct amount is processed in a given month’s payroll.
Now, for employees on a monthly payroll cycle, any pay components can be reviewed, added, or approved by the 15th of the month. That includes, but isn’t limited to:
- Base salary
- Expenses
- Pay supplements
- Recurring allowances
- Unpaid time off
Employees onboarded before the new cut-off date of the 15th will receive their salaries and payments in the same month, while employees onboarded afterwards will be paid in the following month.
After the cut-off, payroll processing begins on the 16th, with the payroll report available to download by the 25th, and salaries paid out on the last day of the month.
What does this mean for me?
Not to get too grandiose here, but with this new capability we’re offering the gift of time. Extended payroll cut-offs will provide our clients ample time to make any necessary changes to employees’ payroll inputs. By making the deadline easier to achieve, we hope to minimize the stress of managing payroll–not to mention contribute to a more positive employee experience. After all, everybody loves getting paid the right amount.
It’s worth noting that the new cut-off date applies only to employees on a monthly payroll cycle. Furthermore, due to local labor laws and infrastructure, the cut-off date for employees in Japan and Pakistan will continue to be on the 10th of every month.
If you have any lingering questions, please feel free to take a look at our payroll FAQ, which goes into more depth on the changes and how you can take advantage of them.
That’s great and all, but why Multiplier?
Speaking of taking advantage, if you’re not currently enjoying the benefits of our global employment platform, you should be! We’re here to help businesses manage global employees, make cross-border payments, ensure compliance, and face any other global employment roadblocks.
Want to find out more about how Multiplier innovations like extended payroll cut-offs can help your business? Talk to our experts to find out more.
