Having a problem with the calculation of salary employees. We are on a Semi-monthly pay schedule so the payperiods are set up as semi-monthly. However, when configuring the wage tab for the employee there is no semi-monthly option so I was forced to select the bi-weekly option which then calculates the salary incorrectly by adding the difference between bi-weekly and semi-monthly to the paystub.
ie: employee salary $1500 semi-monthly - statement of earnings and deductions shows $1625 or an increase of $125/pay period. This $125/pp equates to the difference of 24 and 26 payperiods in a year or $3000.
Is there a different way to configure a semi-monthly salaried employee?
We are on the Cloud Professional Hosted Edition. Thank You!
Incorrect Salary Calculation
Re: Incorrect Salary Calculation
Because you are not using the Community Edition, please email support@timetrex.com, we are better able to assist you that way.
Re: Incorrect Salary Calculation
Hello all.
Can you make a public posts for the solution, because I am having the same problem as described by sandrad.
Thank you in advance.
Can you make a public posts for the solution, because I am having the same problem as described by sandrad.
Thank you in advance.
Re: Incorrect Salary Calculation
The solution in this case is to enter the wage as an Annual amount (Semi-Monthly Amount * 24) instead.