I'm looking for some advice around payroll.
I have recently taken on a new role in a company that is missing a lot of foundational systems. This happened because the 'cfo' that was in place had zero financial management experience- for example, Bamboo is being used for expenses, but I digress.
Our current payroll is done every two weeks, which may have some operational benefit for our most low paid staff, but to me is a nightmare for analysis and reporting. If we keep the two week cadence, I'm always going to have to explain a huge variance in salary costs in every department. My questions are:
For those that have 2 week payrolls and monthly reporting, how do you bridge that gap without feeling like it's a massive waste of time and energy? Or do we just do some rounding?
What have people's experience been when changing from 2 week pay periods to bi- monthly?
And as a bonus question, where have you had payroll reporting to in the long term? Finance or HR. I've spoken with a number of peers on both sides over the past few weeks and there seems to be no general consensus.