Re-Evaluate Amount at Year End {optional}#
This component determines if there is a difference between the accrual and the amount that must be carried forward (e.g. the result of a wage change).
Choose the rule to be used as the ‘Re-evaluate Amount at Year End’ rule.
| Rule | Description | Logic | Assoc. | Go to |
|---|---|---|---|---|
| 01* | Difference Caused by Rate Re-Evaluation | Calculate the old owing amount less the new owing amount caused by the change to the year-end wage rate. | A950 |
Evaluation of a policy is based on the Entitlement Frequency Component (A200). If the frequency does not qualify, entitlement is not given, and amounts owing are not re-evaluated. Processing continues, however, with an evaluation of Time Taken, and year-end processing, if applicable.
If year-end processing occurs, and an employee’s rate has changed since the last evaluation, the rate on the accrual record may be incorrect. This change may be due to the rule defined for A920, or may be caused by a recent change in the employee’s assignment wage rate. If the year-end wage rate is different than the wage rate held in the accrual record, then it is necessary to re-evaluate the wage, and record the change in the amount owing, before creating the following year’s accrual record.
This component is provided to perform this re-evaluation and hold any difference found.
A payroll component should be defined for this component to pass the difference to the payroll register/pay stub/financial ledgers.
