Apply Rate At Banked Time Rule
Class Name
com.workbrain.app.ta.quickrules.ApplyRateAtBankedTimeRule
Overview
The Apply Rate At Banked Time Rule is used to support a process where employees can bank overtime and then have it paid out later in a regular pay period of their choosing at the same rate they banked it. For example, if an employee banks overtime at a rate of $15, then the overtime is paid out at $15 in the future even if the employee has a new rate when it is paid out. Employees can be paid out as much time as they bank. There are no limits to how much time an employee can bank.
The Apply Rate At Banked Time Rule references historical work detail pay rates, so that employees banked overtime can be paid out at the same pay rate it was earned. When configured to pay out at the banked pay rate, the rule references the work details in the BALANCE_LOG_SUMMARY table to derive the pay rate for the banked balance increment amount. The same pay rate is used for the decrement amount of the balance, which occurs when a balance is paid out. When paying out a balance, the oldest banked hours are used first.
The supervisor is responsible for banking an employee's overtime by changing the time code from overtime to the banked overtime time code. When the employee informs the supervisor that they want the overtime paid out, the supervisor applies the time code to the timesheet that decrements from the balance of banked overtime.
Parameters
| Parameter | Description |
|---|---|
| Balance Increment Time Code(s) | Select the time codes that identify work details that need to be referenced when paying out the banked overtime. The system looks up historical increments to the specified balance for the configured time codes to obtain the pay rate associated with the balance increment. The oldest occurrences of the time code balance increments are referenced first. |
| Balance Decrement Time Codes(s) | Select the time codes to which balances are paid out. The rule applies the historical rates to the work details that contain the time codes used for payout. |
| Lookback Period | Specify the number of days that the rule will look back to reference the balance increment time codes. |
Example: Paying out banked overtime
In this example, an employee is paid out 5 hours of banked overtime that was earned on June 1 at a rate of $20 per hour.
Parameters:
| Parameter | Value |
|---|---|
| Balance Increment Time Code(s) | COMP-BK |
| Balance Decrement Time Codes(s) | COMP-TK |
The employee increments the Banked OT balance with 5 hours of overtime using the COMP-BK time code on June 1. The associated work detail pay rate is $20 per hour for the 5 hours of overtime earned.
When the manager pays out 5 hours of banked overtime to the employee on August 15, then the Banked OT balance is decremented 5 hours (0 banked hours remaining). The employee receives a 5-hour banked overtime premium at a rate of $20 (total $100).
Example: Paying out banked overtime earned at different rates
In this example, an employee is paid out 7 hours of banked overtime that was earned on June 1 at a rate of $20 per hour and June 15 at a rate of $30 per hour.
Parameters:
| Parameter | Value |
|---|---|
| Balance Increment Time Code(s) | COMP-BK |
| Balance Decrement Time Codes(s) | COMP-TK |
The employee increments the Banked OT balance with 5 hours of overtime using the COMP-BK time code on June 1. The associated work detail pay rate is $20 per hour for the 5 hours of overtime earned.
The employee increments the Banked OT balance with another 3 hours of overtime using the COMP-BK time code on June 15. The associated work detail pay rate is $30 per hour for the 3 hours of overtime earned.
When the manager pays out 7 hours of banked overtime to the employee on August 1, then the Banked OT balance is decremented 7 hours (1 banked hour remaining). Since the pay rate from the oldest balance increments are used first, the employee receives a 5-hour banked overtime premium at a rate of $20 (total $100). The employee also receives a 2-hour banked overtime premium at a rate of $30 (total $60).