der Zahltag
payday
The day of the month on which wages or salary are paid.
Ich kann es kaum erwarten, am Freitag ist endlich Zahltag.
I can hardly wait—Friday is finally payday.

payday
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payday
The day of the month on which wages or salary are paid.
Ich kann es kaum erwarten, am Freitag ist endlich Zahltag.
I can hardly wait—Friday is finally payday.

'Zahltag' (payday) is a compound noun made from the stem of the verb 'zahlen' (to pay) and the noun 'der Tag' (the day). So the meaning is literally: the day on which payment is made.
Am Zahltag gönne ich mir immer etwas Schönes.
On payday, I always treat myself to something nice.
In its literal meaning, the word is often used in simple, everyday sentences. Typical are exclamations like 'Endlich Zahltag!' (Finally payday!) or the phrase 'auf den Zahltag warten' (to wait for payday).
Ich kann dir das Geld erst nach dem nächsten Zahltag zurückgeben.
I can only pay you back the money after the next payday.
You can recognize the figurative meaning from the negative context. It describes the moment when someone has to face the bad consequences of earlier actions. It is often used with the verb 'kommen' (to come).
Nachdem er alle belogen hatte, kam für ihn irgendwann der Zahltag.
After he had lied to everyone, the day of reckoning eventually came for him.
bill / reckoning
'die Abrechnung' and 'der Zahltag' can both have to do with money or with a later consequence for earlier actions. In the normal financial sense, 'Abrechnung' is a detailed list of costs, services, or income. 'Zahltag', by contrast, is a specific day on which wages or salary are paid. In a figurative sense, both can mean that someone has to pay for something or face consequences. Learners may confuse them because people say: 'Jetzt kommt die Abrechnung' (now comes the reckoning) or 'Jetzt ist Zahltag' (now it's payday / the day of reckoning). In practice: for numbers, costs, and lists, 'Abrechnung' fits; for the day of payment or a dramatic moment of consequences, 'Zahltag' fits.

Am Zahltag überweist die Firma das Gehalt auf das Konto.
On payday, the company transfers the salary to the account.
Nach der Reise prüft Paul die Abrechnung der gemeinsamen Kosten.
After the trip, Paul checks the statement of the shared costs.