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Pgm: PYRATCOD – Rate Codes Maintenance; standard Treeview path: US Payroll > Setup > Local Tables > Rate Codes
Use this screen to define the rates codes (pay rate multipliers) that will be used to calculate the pay rates associated with different types of hours within timesheet entry. Rate codes determine the premiums for each type of hour: regular, overtime, double time or other.
As you define these codes, keep in mind that you will need to define (at minimum) the pay rates for the following class of hours; NH- Normal Hours, OT – Overtime, DOT – Double Overtime and Other. These hour types will appear as column headers within timesheet entry. The rate codes will default beside each of these types of hours in order to calculate the premium for the pay rate.
Rate codes are defined at the company and the employee level. Note however, the system will use the rates for each class of hour based on the Employee Profile setting. The company setting is only used as the default for new employees.
Code
Enter a unique rate code.
Description
Enter the description for this rate code.
Short Description
Enter short name for use where space is limited.
Multiplier
Enter the multiplier for the rate code you are defining. The multiplier is the number that will be multiplied against the base pay rate to determine the appropriate pay rate for the hours entered against this rate code.
For example, if you want normal hours to be calculated at the base rate, you would enter a multiplier factor of 1 in this field. If you want overtime to be calculated at time and a half, you would enter a multiplier factor of 1.5 in this field.
Premium Per Hour Amount
Enter the premium per hour that will be added to each hour of the rate code that is being defined to determine the appropriate pay rate.
For example, if you wish to add a $0.10 premium to each overtime hour, enter an adjustment of .10 into this field.