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Apply Weighted Average Rates To Timesheets

Weighted average rate is a rate that is calculated by adding the labor amount from several timesheet lines and dividing that sum by the total number of hours from those timesheet lines.

Warning: You must set up timesheet cycle parameters on the Configure Weighted Average Overtime Settings screen before you can use this screen.

This concept is critical for employees who perform contract work, where different pay rates are assigned to different projects.

The U.S. Department of Labor Employment Standards Administration Wage and Hour Division states that:

”Unless specifically exempted, employees covered by the Act must receive overtime pay for hours worked in excess of 40 in a workweek at a rate not less than time and one-half their regular rates of pay . . . Where an employee in a single workweek works at two or more different types of work for which different straight-time rates have been established, the regular rate for that week is the weighted average of such rates. That is, the earnings from all such rates are added together and this total is then divided by the total number of hours worked at all jobs.”

This information originates from the following website: http://www.dol.gov/whd/regs/compliance/whdfs23.htm.

You can determine and apply weighted average rates based on screen settings and the rules assigned to the Timesheet Cycle on the Configure Weighted Average Overtime Settings screen.

Only employees whose pay class and FLSA Exempt status match one of the selected pay class/FLSA exempt status combinations from the Configure Weighted Average Overtime Settings screen are selected for processing.

This program gives you the option of processing all unposted timesheets when recasting the overtime premium. If this utility finds a posted timesheet for which a new weighted average rate must be applied, it generates a warning report notifying you that the Create Retroactive Timesheet Adjustments utility needs to be executed.

You can apply weighted average to all unposted timesheets for the login company or just one Timesheet Cycle/Timesheet Period combination.

Note:

If this application finds a posted timesheet to which a new weighted average rate must be applied, it generates a warning report notifying you that the Create Retroactive Pay Timesheets utility needs to be run. The report includes the Employee ID, Timesheet Date, Sequence Number, the Timesheet Type that needs to be processed, and the Period Start and End Dates.

If you are using this screen, you cannot use the Allocate Compensated Overtime Across Timesheet Lines and the Delete Allocated Compensated OT from Timesheet Lines screens.

Run this screen after entering regular timesheets but before processing them to Payroll, computing leave, or posting them to the General Ledger. This screen recomputes R-Regular, C-Correcting, D-Replacement, N-Reversal, and L-Labor-Only timesheets; other timesheet types (for example, Bonus) are not processed.

If you are also using the Recast Overtime Premium to Timesheet Lines utility, you must run it after this utility. If you do not run this utility program first, the correct overtime premium amounts are not recasted for hourly non-exempt employees.