Payout Current Year Amount Owing#
This component recalculates the amount owing based on the current time owing.
Chose the rule that is used as the ‘Payout Current Year Amount Owing’ rule.
| Rule | Description | Logic | Assoc. | Go to |
|---|---|---|---|---|
| 01 | Time Owing x Payout Wage Rate | Calculates the Time Owing (A700) x the Payout Wage Rate (A710) This re-evaluates the wages when the established wage rate method is being used. Example: If Rule 01 for A710 From the unofficial record, time owing is 66.667. The payout wage rate would be $100.00 The current amount owing would be 66.667 x $10.00 = $666.70 If Rule 02 from A710 From the unofficial record, time owing is 66.667. The payout wage rate would be $8.20. The current amount owing would be 66.667 x 8.20 = $546.67 | A700 A710 | A740 |
| 02* | Difference between Total Paid and Total Earned | Calculate the current amount owing by taking the difference between the Current Year Amount Earned (A380) and the Current Year Amount Paid (A370) | A370 A380 | A740 |
This component is almost always defined, unless the policy does not track current year owing, or does not allow employees to take current year amount owing.
