Example of Billing Overtime Using the Employee's Overtime Percent and the Rate Table Method
You can have Vision calculate overtime using the Employee Overtime Percentage method with the Rate Table method.
Specify the Overtime Method and Labor Method on the Labor tab of the Billing Terms form.
The employee’s regular and overtime cost rates are based on the rate specified in the table specified at the Rate table field on the Labor tab of the Billing Terms form. If an override table is specified for the project, and the employee has an override rate in the table, Vision uses this rate to calculate regular and overtime charges.
Although this example does not apply additional multipliers, they may be specified for rate table methods.
The following factors contribute to the calculation of overtime billings:
| Factor | Value |
|---|---|
| Employee’s billing rate from Billing Rate Table | $70.00 per hour |
| Overtime percentage in Employee Info Center | 150% |
| Regular Hours ( Timesheet Posting) | 15 |
| Overtime Hours (Timesheet Posting) | 3 |
The calculation is:
| Description | Calculation |
|---|---|
| Overtime Rate |
Billing Rate * Overtime % from Employee Table = $70.00 * 150% = $105.00 |
| Extended Regular and Overtime Charges |
( Reg Rate * Reg Hours) + ( Ovt Rate * Ovt Hours) = ($70.00 * 15) + ($105.00 * 3) = $1,050.00 + 315.00 = $1,365.00 |