Defining allowance components

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

Use this procedure to define a budget calculation component that will use an allowance 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.

  1. Select Development Planning > Set Up > Budget Components > Budget Calculation Methods.
  2. Open the budget calculation method for which to define a component.
  3. In the Calculation Components region, select New > Create Allowance Component.
  4. 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 allowance to an annual amount.

    Percent Increase

    If the allowance 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.

    Allowance Type

    Required. Select the allowance type applicable to this component.

    Note: You can have more than one allowance component within a budget calculation method.
  5. Click Save.
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