A710 Determine Payout Wage Rate#
This component indicates which rate is used to calculate the value of the time owing.
Choose the rule to be used as the ‘Determine Payout Wage Rate’ rule
| Rule | Description | Logic | Assoc. | Go to |
|---|---|---|---|---|
| 01* | Use Established Rate | Uses the wage rate as defined in A010. Rule 01 is used if the full amount owing is calculated based on the employee's current rate. Example: From the official record, Time Owing is 60 hours and Wage Rate is $8.00/hr. From the unofficial record, time owing is 66.667 hours, and Wage Rate is $10.00/hr (1 month entitlement this evaluation = 6.667 hours). The payout wage rate would be $10.00. | A010 | A730 |
| 02 | Use Average Rate | Calculates the wage rate based on an average of the wage rate(s) used when old entitlements were earned and the wage rate used for this entitlement. The actual calculation is: (Accrual Record Amount Earned + (Entitlement This Evaluation x Current Wage Rate)) Total Time Owing Including This Evaluation. Rule 02 is used if the entitlement earnings are based on the wage paid at the time earned. Example: From the accrual record, Time Owing is 60 hours and Wage Rate is $8.00/hr. Therefore, Amount earned is 60 x $8.00 = $480. From the calculated entitlement, time owing is 66.667 hours, and Wage Rate is $10.00/hr. If 1 month entitlement this evaluation is 6.667 hours, the amount earned is 6.667 x $10 = $66.67. The payout wage rate would be calculated as: ($480 + $66.67) / 66.67 = $8.20. | A010 A700 A730 | A730 |
Notes #
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