Normal rate wage calculation

Pay rate type

Hourly
Time Record Amount = Pay Rate * Hours
Annual Salary
Pay Period Wage = Pay Rate / # of Pay Periods*
Time Record Amount** = Pay Period Wage * (Time Record Hours / Total Pay Period Hours)
Monthly Salary
Pay Period Wage = Pay Rate * Number of Months / # of Pay Periods*
Time Record Amount** = Pay Period Wage * (Time Record Hours / Total Pay Period Hours)

* # of Pay Periods is based on Pay Frequency - Weekly = 52, Bi-Weekly = 26, Monthly = 12, Semi-Monthly = 24, Four-Weekly = 13.

** Time Record Amount may be adjusted to weighted salary.

If Pay Rate Type is set to Annual Salary or Monthly Salary and pay rate changes during the pay period, pay period wages must be adjusted to weighted salary.
Weighted Salary is set to Sum Annual Rate for Each Time Record / # of Time Records / # of pay periods
The system will adjust the last time record in the pay period to the difference between the weighted salary and the total amounts for all time records in the pay period.
Invoked action name - Adjust Pay Period Wages

If Pay Rate Type is set to Annual Salary or Monthly Salary and number of hours in the pay period change, re-prorate pay period wage across time records.
Invoked action name - Recalculate Wages