VACATION PAY CALCULATION

SUGGESTED

When an employee takes vacation and I want to pay them for those hours, I enter the # of vacation hours to be paid on the Vacation Tab, in the This Period - Hours field.  The program should multiply this amount by the employees hourly wage to calculate the payment.  It doesn't do this, so I have to calculate it myself and enter it in. Please update the software to include this calculation.  It does it on the Income tab when you enter the number of hours to be paid, the program multiplies the hours by the employees rate and inputs the result.

Thank you

Ron

Parents
  • 0

    Since an employee can have multiple rates of pay for different work performed you have to calculate these amounts manually.  I find it frustrating too and would like to be able to select the primary rate for it to use to calculate vacation pay. 

  • 0 in reply to A. Kinneard

    Good Morning.....but if it accrues at 4 or 6% does it not record the dollar amount in the accrual and when you pay it out you just pull dollar amounts because it already figured out the amount when accruing?

  • 0 in reply to Marj@Swab
    SUGGESTED

    Good morning,
    No you wouldn't just pay out the amount accrued, you need to calculate the amount that is being paid each time.
    Vacation accrual is on all vacationable earnings, meaning the amount accrued may be greater than the daily rate for the amount of vacation being used.
    Also the accrual account is for 2 years, so any vacation monies I accrue this year are technically to be used next year.
    If my daily rate is $100 and I take 10 days, I'm being paid $1000 for those days, but I may have $1500 in my accrual and you'd pay out next year's vacation accrual if it's done the way you suggested.
    Also if I have a performance bonus that is vacationable earnings so if my boss paid me $5000 performance bonus, I would earn my vacation accrual on that amount as well.  That amount could be paid out at the time of earning it, or at the year end to keep the accrual account clean.

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  • 0 in reply to Marj@Swab
    SUGGESTED

    Good morning,
    No you wouldn't just pay out the amount accrued, you need to calculate the amount that is being paid each time.
    Vacation accrual is on all vacationable earnings, meaning the amount accrued may be greater than the daily rate for the amount of vacation being used.
    Also the accrual account is for 2 years, so any vacation monies I accrue this year are technically to be used next year.
    If my daily rate is $100 and I take 10 days, I'm being paid $1000 for those days, but I may have $1500 in my accrual and you'd pay out next year's vacation accrual if it's done the way you suggested.
    Also if I have a performance bonus that is vacationable earnings so if my boss paid me $5000 performance bonus, I would earn my vacation accrual on that amount as well.  That amount could be paid out at the time of earning it, or at the year end to keep the accrual account clean.

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