For Talenox Hong Kong users, the calculation of Rate of Pay (ROP) for employees will by default follow the "Proration Calculation" setting selected for the whole company.
Where Can I Set This Up?
You can head to Profiles > Company Details > Payroll Details > Proration Calculation and select from any of the options available:
Calendar Days
Working Days
NOTE: The ROP being referred to is the Rate of Pay of the pay items under the "Hourly/Daily Attendance" tab in payroll processing. Some examples of this are:
Regular/Overtime Hours
Regular/Overtime Days
Rest Day Pay
Formula of Rate of Pay According to Selected Settings
We calculate ROPs using formulas based on the selected proration settings seen below:
1) For "Calendar Days" proration setting selected
Daily rate: (12 x Basic Pay) / 365
Hourly rate: [(12 x Basic Pay) / 365] / working hours per day
2) For "Working Days" proration setting selected
Daily rate: (12 x Basic Pay) / (52 x working days per week)
Hourly rate: [(12 x Basic Pay) / (52 x working days per week)] / working hours per day
NOTE:
Working hours per day: Working hours per week / Working days per week
Hourly rate: Daily rate / working hours per day
Rest Day Pay: 2 x Daily rate
Based on the formulas above, you'll need to ensure that the following sections for each employee is keyed in accurately (under Company Details page):
Working Day Settings
Working Hour Settings
Proration Calculation
If you'd like to change the Proration Setting for pay items in the Attendance tab in payroll, you can adjust this according to each specific pay item selected.
View the steps on how to do so here:
We hope this information proves helpful! Wishing you a great time processing your payroll with Talenox. 👍