Advanced Costing

The Advanced Costing feature includes numerous improvements to the usability and flexibility of employee compensation setup as well as calculating gross pay data for salary systems based on this setup.

Large companies have the requirement to be able to specify the employee overhead cost rate as a percentage and to maintain this at a higher level than at each individual employee. Some companies group their employees into a number of categories with respect to overhead cost and want to specify overhead cost as a percentage for each combination of this category and company. This category differs from the employee category. For example, a consultant might work out of the office and another might work at customer site and might therefore have different overhead cost.

In addition, large companies have the need to store compensation related details including base salary, gross and hourly pay, hourly cost , pay periods and pro rata with thresholds and limits, all assigned at the employee level, which is facilitated now with the use of enhanced compensation agreements.