How is payroll handled?
Pay checks are distributed, or direct deposited, on the 15th and last day of each month. At least five business days prior to each payroll date, the branch manager must submit a payroll request for each branch employee. The request is submitted through an online payroll system. The payroll request is reviewed and, if approved, payment is authorized. Payroll will not be paid to branch employees if the accumulated profit/reserve of the branch is insufficient to cover the payroll amount. Payroll cost, including benefits cost, is charged as an expense to the branch profit and loss account.
