Hi, I have changed an employee from Weekly pay to Monthly pay. Although I have changed every setting I can find, it still comes up as a weekly amount when I create a payrun. Can someone please tell me all of the steps to see what I may have missed?
Go into their payroll & compensation info tab, and instead of hourly set up a salary pay and put in the $$ p.a, change the frequency to Monthly... don't for get to change the leave accrual details to reflect the new accrual amount per pay period which is now a month. This would be their hours of a/l divided by 12 will give you the monthly accrual rate i.e 4 wks @ 8hr days = 160hrs div 12 = 33.33 hrs month accrual. do same for pers. leave.
or you could use hourly but you have to put in the hours worked in the month. And usually someone on a monthly pay is on salary package which includes overtime sometimes and not always a set hour per week or day.
That accrual rate would be incorrect, most people in the Australian workforce have a 38 hour week, with 152 hours of annual leave. Therefore the accrual rate for annual leave would be 152/12 = 12.667 and personal leave half of this or 6.333