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IPSBRD - Burdened Rate
This Burdened Rate Module provides the ability to create and manage burdened rate which can be configured for each type of pay, for each employee, based on hours worked.
This is ideal for temporary labor where the burdened rate for an employee is calculated based on the employee's pay rate, but varies both by the type of pay (standard time, overtime, double time, sick, vacation, holiday, etc.) and by the total hours worked (520 hours, 1,000 hours, etc.).
Burdened Rate Features:
- Allows the creation of burdened rates per employee.
- Burdened rates can be set for each pay type, including standard time, over time and double time.
- Burdened rates can be set for each benefit type, including sick, vacation and holiday.
- Burdened rates can be set to change as the employee works additional time. As many transition points can be configured as needed, for example, starting at 0 hours, 520 hours, 1,000 hours, etc.
- Burdened rates do not impact pay calculations, but can be used in custom payroll and/or custom reports to show the pay due the employee and the burdened cost for that pay, based on the figures entered.
Also allows configuring cost allocations per employee and per-job cost allocation overrides. Cost allocations allow reporting to designate an employee's worked time as belonging to multiple accounts, customers, projects, etc. Add as many allocations as needed, with codes and amounts for each.
Cost Allocation Features:
- Allows the creation of cost allocations per employee.
- Allows the creation of cost allocations per job. When employees work jobs, job allocations override employee allocations when the code is the same.
- Add as many allocations as needed.
- Each allocation consists of a code and an amount. i.e. code: 10200 gets 25%, 10300 gets 10% and 10400 gets 65%.
- Allocations available in custom reporting and/or custom payroll exports.
Note: Requires TimeIPS Version 1.8.62 or later
Find more details at the following links:
IPSBRD - Burdened Rate Module™
IPSBRD - PDF DataSheet
Duplicate Row and Dynamic Job Allocation Mapping
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TimeIPS is protected by one or more patents. Patent No. US 7,114.684 B2.