Deltek Vantagepoint Help

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Adjust Salaried Job Cost Calculations

When you use the Adjust Salaried Job Cost feature, Vantagepoint calculates an adjusted hourly job cost rate for each salaried employee.

Job Cost Calculations When Timesheets are Posted

When you post a timesheet for a salaried employee, Vantagepoint calculates the standard hourly job cost rate using the following information:

  • The employee's Cost Rate on the Accounting tab in the Employees hub
  • The employee's Hours/Day on the Personal and Contact Details tab in the Employees hub
  • The company's Job Cost Frequency in Settings > Accounting > Labor Options

Vantagepoint performs the following calculations:

Standard Hourly Cost Rate = (Cost Rate / Job Cost Frequency in days) / Hours/day

or

Standard Hours = (Hours/day x 260) / Job Cost Frequency Per Year

Standard Hourly Cost Rate = Cost Rate / Standard Hours

Where:

  • 260 = Number of work days in a year (52 weeks per year x 5 working days/week)
  • Job Cost Frequency Per Year is one of the following:
    • Weekly = 52
    • Bi-weekly = 26
    • Semi-monthly = 24
    • Monthly = 12

The job cost amount is calculated by multiplying the actual hours worked, as entered on the timesheet, by the standard hourly cost rate:

Job Cost Amount = Timesheet Hours x Standard Hourly Cost Rate

Job Cost Calculations When You Run the Adjust Salaried Job Cost Process

When you run the Adjust Salaried Job Cost process, Vantagepoint first calculates the hourly cost rate. It uses the employee's Cost Rate on the Accounting tab in the Employees hub and the hours entered on the timesheet.

Hourly Cost Rate = Cost Rate / Timesheet Hours

Then Vantagepoint calculates the job cost amount by multiplying the timesheet hours by the hourly job cost rate.

Job Cost Amount = Timesheet Hours x Hourly Cost Rate

To include overtime hours in Adjust Salaried Job Cost calculations, select the Include overtime hours in job cost calculation option in Settings > Accounting > Labor Options.