Defining other pay rate components

Note: Not applicable if you are using Infor Learning Management.

Use this procedure to define a budget calculation component that will use an "other pay rate" to calculate budgets. This type of component would normally be used in conjunction with a work assignment pay rate component or a work assignment total pay rate component.

Select Development Planning > Set Up > Budget Components > Budget Calculation Methods.
Open the budget calculation method for which to define a component.
In the Calculation Components region, select New > Create Other Pay Rate Component.
Specify this information:

Effective Date

Required. Specify the effective date.

Component

Required. Specify the name of the calculation method component.

Description

Specify the description of the calculation method component. If you leave this field blank, the calculation component name defaults.

Multiplier

Specify the multiplier that will be used to convert the pay rate to an annual amount.

Percent Increase

If the pay rate for this component is likely to increase between the time that the budget is calculated and the time the development budget is in effect, you can specify a percent increase (for example 3%). The system will add this increase to the salary calculations.

Other Pay Type

Required. Select the other pay rate type applicable to this components.

Note: You can have more than one other type rate component within a budget calculation method.

Other Pay Rate Category

Required. Select the other pay rate category that is applicable to this component. The only valid options are Alternate Rate and Billing Rate.
Click Save.