RECKON ONE: Setting up salaried full-time employee paid monthly

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  • Updated 4 months ago

I am setting up  a salaried ($65K pa) full-time employee (38 hr/pw) paid monthly. I have read the best way to set up salaried employees is on an hourly basis (rather than 'salaried'). In the 'Employee setup', please advise if the information in the following tabs would be correct:

The 'Employment' tab I'm pretty sure is ok.

Displaying Employment tabJPG

The 'Leave' tab:
     'Annual entitlement' should say 152 hrs?
     'Accrual period' should be 'per time worked'(not per pay) so the 'rate per period'(ie: p/hr) defaults to 0.076923 ?

Displaying Leave tabJPG

The 'Pay set up' tab:
     'Pay item' should be 'ordinary' (not 'salary') so the 'Rate basis' defaults to 'hourly' (not 'salary')
     'Qty' entered should be no. of hours per pay period (ie:monthly) 164.66*  
     'Rate' entered should be $32.8961 which gives $65K pa **

* 38 hrs/wk X 52wks=1976 hrs p/a /12 mths = 164.66 hrs p/mth if paying mthly

**164.66 hrs p/mth X 12 mths X $32.8961 p/hr = $65K pa

PaySetUpTab Ord not salary Hrly pmJPG

All help would be very much appreciated.

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Celeste Marinovich

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Posted 4 months ago

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