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 .
- Employee Hours/day worked on the Personal tab in .
- Job Cost Frequency on the Timesheet tab in .
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 RateJob 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 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 .