Adjust Salaried Job Costing Calculations

Use the Adjust Salaried Job Costing feature to create an adjusted hourly job cost rate for each salaried employee based on the employee's salaried pay rate and the actual hours the employee works each pay period.

Job Cost Calculations When Timesheets are Posted

When you post timesheets for a salaried employee, Vision performs the following calculations:

Vision calculates the standard hourly job cost rate using the following information:

• Employee Job Cost Rate on the Accounting tab in Info Center > Employee.

• Employee Hours/day worked on the Personal tab in Info Center > Employee.

• Job Cost Frequency on the Timesheet tab in Configuration > Accounting > Company Settings.

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

or

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

Standard Hourly Job Cost Rate = Job 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 job cost rate:

Job Cost Amount = Timesheet Hours x Standard Hourly Job Cost Rate

Job Cost Calculations When You Run Adjust Salaried Job Cost

When you run Adjust Salaried Job Cost, Vision first calculates the hourly job cost rate. It uses the employee's job cost rate as specified on the Accounting tab in Info Center > Employees and the hours entered on the timesheet.

Hourly Job Cost Rate = Job Cost Rate / Timesheet Hours

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

Job Cost Amount = Timesheet Hours x Hourly Job Cost Rate

To include overtime hours in the Adjust Salaried Job Cost calculations, select the Include overtime hours in job cost calculation option on the Timesheets tab in Configuration > Accounting > Company Settings.