All equivalents are additionally multiplied by the factor defined against the payment type for the selected pay element type.
All equivalents that require career data will use the effective career as at the effective date of the pay record. It is not possible at this time to vary this.
Annual Equivalent
Depends on the pay type:
Pay Type | Calculation |
Annual Amount | = Pay Amount |
Period Amount | = (Pay Amount) multiplied by (Periods per Year as defined against the selected pay frequency) |
Hourly Rate (Basic Hours) | = (Pay Amount) multiplied by (Hours per Year as defined against the effective career record based on the pay record's effective date) |
Period Equivalent
If the periods per year defined against the selected pay frequency is 0, this will also be 0. Otherwise, depends on the pay type:
Pay Type | Calculation |
Annual Amount | = Pay Amount |
Period Amount | = (Pay Amount) multiplied by (Periods per Year as defined against the selected pay frequency) divided by (Periods per Year as defined against the selected pay frequency) |
Hourly Rate (Basic Hours) | = (Pay Amount) multiplied by (Hours per Year as defined against the effective career record) divided by (Periods per Year as defined against the selected pay frequency) |
Hourly Equivalent
If the hours per year defined against the effective career record is 0, this will also be 0. Otherwise, depends on the pay type:
Pay Type | Calculation |
Annual Amount | = Pay Amount divided by (Hours per Year as defined against the effective career record) |
Period Amount | = (Pay Amount) multipled by (Periods per Year as defined against the selected pay frequency) divided by (Hours per Year as defined against the selected pay frequency) |
Hourly Rate (Basic Hours) | = Pay Amount |