Wages
MAIN MENU > Employee > Wages
The first wage entry for an employee must have an effective date that occurs on or before the employee's hire date. If a wage entry does not cover a period of time, the employee will not be paid for the time they worked within that period.
See the Basic Operation section for details on viewing, adding, editing and deleting.
NOTE: It is critical that you specify an hourly rate for salary employees. Otherwise, TimeTrex can't calculate any adjustments to the employees' salary.
| Wage Tab |
| FIELD |
DESCRIPTION |
| Employee |
Select the employee's name from the drop-down box. |
| Wage Group |
Select the correct wage group for the employee from the drop-down box. In most cases, the default wage group for the employee is sufficient. In rare cases, if the employee works more than one job at different rates of pay, you might need a secondary wage. Learn more in the section about Secondary Wage Groups. |
| Type |
Select the type of wage from the drop-down box.| TYPE | DESCRIPTION |
|---|
| Hourly | The employee is paid by the hour. | | Salary (Weekly) | The employee is paid weekly. | | Salary (Bi-Weekly) | The employee is paid bi-weekly. | | Salary (Monthly) | The employee is paid monthly. | | Salary (Annual) | The employee is paid annually. |
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| Wage |
Enter a wage amount, either per hour or per salary period. |
| Average Time/Week |
If you chose one of the salary options as the Type, enter the amount of hours per week for the salaried employee, ie: 40 hours per week. |
| Annual Hourly Rate |
If you chose one of the salary options as the Type, the Annual Hourly Rate field will display the equivalent hourly rate for that salary amount that you put into the Wage field. |
| Labor Burden Percent |
Add a percent, such as 25%, to represent the additional costs for this employee. For example, if an employee's salary is $20,000 and receives additional benefits worth $5000 for health care and paid vacation, the labor burden is 25%. The rough estimate for extra employee costs is calculated from company accounting records and is applied as a percent to the Labor Burden Percent field. If additional employee costs are not calculated, then this field should be 0%. |
| Effective Date |
This field contains the date that a wage becomes effective. For example, when an employee receives a new wage from a promotion, this field should not be changed or the employee's wage history will be lost. For every change in the employee's wage, you should add a new wage record with the new amount. Then a complete history of each employee's wage changes is maintained within the application. |
| Recalculate TimeSheets |
When this box is checked timesheets are automatically recalculated for all open pay periods from the Effective Date. |
| Note |
Add an optional note. |
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