Defining work assignment 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 the resources' work assignment pay rate to calculate budgets.

  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 Work Assignment Pay Rate 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 pay rate to an annual amount. For annual calculation methods, the multiplier would be 1. For monthly calculation methods, it could be 12 or 13. For hourly calculation methods, it would be whatever number of hours represent full time for a year.

    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.

  5. Click Save.
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