Time periods (e.g. weekly, biweekly, semi-monthly, monthly) can be used to render timesheets and reports. You can configure custom weekly, biweekly, semi-monthly, or monthly time periods to render employee timesheets. For example you might want a semi-monthly time periods that have two time periods per month. You can customize them to begin on the 1st and 15th, the 1st and 16th, the 3rd and 18th, or whatever dates you want. Monthly time periods can begin on any date of each month. Yearly time periods can be created for fiscal years by having the year begin on October 1st or July 1st. Custom time periods can be created to begin and end on any dates you want. Besides rendering employee timesheets to render with certain start and finish dates, time periods also are used as an anchor for email timesheet reminder and late notices that are scheduled to trigger at certain times before or after the end of a time period. The “weekly,” “biweekly,” “semi-monthly,” “monthly” and “custom” time periods are used to render timesheets. No one, to our knowledge, has quarterly or yearly timesheets. Time periods are assigned to timesheet templates and tell the timesheet what start and finish dates it should have.