QuantityXRate

The QuantityXRate calculation type is typically used to calculate mileage reimbursement where the number of miles and the rate per mile are used.

When you create a QuantityXRate action, you must specify a quantity and a rate.

You can also specify an annual cap, that is, the maximum amount that can be applied over the course of a year. The cap can be based on the calendar year or the fiscal year.

Calculation formulas

The QuantityXRate calculation type uses these formulas depending on whether the spreading is used.

If spreading is used:

Period value = Quantity x Rate x Phasing factor for this period x Proration factor for this period

If spreading is not used, the period that contains the action start date gets the entire amount without proration:

Period value = Quantity x Rate

Example 1: QuantityXRate calculation with spreading

This example shows the QuantityXRate calculation for a position with these settings:

  • Phasing method: Even

    For each period, the phasing factor is 1/12.

  • Spread = Yes
  • This table shows the quantity, rate, and the start and end dates for this action:
    Start date End date Quantity Rate
    2/8/17 6/15/17 1,200 $1

This table shows the calculated values for each period from February through June:

Month Period value Result
Feb (1,200 x $1) x 1/12 x 21/28 $75
Mar (1,200 x $1) x 1/12 x 31/31 $100
Apr (1,200 x $1) x 1/12 x 30/30 $100
May (1,200 x $1) x 1/12 x 31/31 $100
Jun (1,200 x $1) x 1/12 x 15/30 $50

Example 2: QuantityXRate calculation without spreading

This example shows the QuantityXRate calculation for a position with these settings:

  • Spread = No
  • This table shows the quantity, rate, and the start date for this action:
    Start date Quantity Rate
    2/8/16 1,200 $1

This table shows the result of the QuantityXRate action without spreading:

Month Calculation Result
Feb (1,200 x $1) $1,200