How does a semi monthly pay period work — when does each period start and end?

I'm setting up payroll for the first time and need help understanding the semi monthly pay period structure. When does each period officially begin and end, and how do you handle partial periods for employees who start mid-cycle? Any setup tips would really help.
 
A semi-monthly pay period divides the month into two parts, usually the 1st–15th and the 16th–last day of the month. Employees are paid twice each month, often on fixed dates like the 15th and the last day of the month. The exact start and end dates may vary by employer, but the structure always results in 24 pay periods per year.
 
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