Code

Unique code identifying the frequency.

Description

Description of the payment frequency. For example, Monthly or Weekly.

Divisor

Number of pay periods of this frequency per year. For example, a Monthly frequency would have a division of 12.

Note: If your pay period does not evenly divide into the year, divide 365.4 by the number of days in your pay period. For example, a Weekly pay period is 365.4/7 = 52.18.

Weeks

Number of weeks in the pay period. For example, a fortnightly pay period has 2 weeks.

Note: If your pay period has an unequal number of days, divide 52.18 by the number of pay periods per year. For example, a Monthly pay period would be 52.18/12 = 4.333.