If you have multiple types of earnings for your organization, this article will help you set up new earning codes.
- From the Fingercheck Dashboard, go to Setup > Payroll > Earnings.
- Click on the blue "Add" button to create a new earning code. "Holiday", "Overtime", "Regular", "Sick", and "Vacation" are default codes that come standard when your company is created.
- Fill out the Code (Title), Short Description, and Description of the new earning code you are creating.
Note: When exporting your timesheets, by default the short description of the earning code will be exported. Please make sure to name that earning code as it needs to be displayed in your payroll export.
If you are keeping track of your rates within Fingercheck, fill out the additional fields accordingly.
(If not, you can simply fill in the three required codes and click on "Save.")
Each field has a short explanation next to it within the Earning Codes information box. Here is a more detailed breakdown of all the fields:
- Calculation Rule: This asks you to specify the way your employees' rates will be calculated for this earning code.
- HoursxRatexFactor: To multiply the hours worked by rate, select this option.
- FlatAmount: If your employees will be making a flat amount for this earning, select this option.
(You will have the opportunity to enter what their flat rate is later on.)
- CustomCalcExpression: If you have a customized calculation that you would like to use to calculate their rate for this division earning, select this option.
- Rate Factor: If you are calculating their rate by multiplying their hours worked, enter the multiple of the regular rate to use to calculate this earning.
For instance, in this scenario, we are creating a Double Time earning code, so we would enter 2 to double their regular rate. In another instance, say for Overtime, our employees might be making 1.5x their regular rate, so we would enter 1.5.
- Rate: If you would like to use a special rate, enter it here.
- Rate Code: Typically, you would select the Base Rate here.
Rate Rule: The Rate Rule asks for more detail on how to calculate the rate for this earning if needed:
- Special – Select this option if you are using a special rate (as specified above).
- Entered – Select this option if you are using a fixed, specific flat amount.
- Rate Code – Select this option if you are using a rate code with a rate already assigned to it.
- Rate Code Plus Special – Select this option if you are using a rate code and would like to pay a special amount on top of that. Entered Plus Special – Select this option if you are using a fixed, specific amount and would like to pay a special amount on top of that. Rate Source Plus Special – Select this option if you are using a base rate that is assigned by the job, not by the individual employee.
Amount: If you selected a flat amount as your calculation rule, enter the amount to use here.
Display Sequence – This refers to the order you want your division earning codes to be displayed by on payroll reports. For instance, "Regular" is typically displayed first (1) so it would make sense to make "Double Time" second (2).
Make sure to click "Save," to finalize the creation of your new earning code. You should see your new earning displayed alongside your existing earning codes.
Now you are done!
Lastly, if ever you (or your employer) are in need of technical assistance, you can contact our Support team at 1-800-610-9501, or, use our in-app messaging feature by logging into our secure site and initiating a conversation.
To learn more about our cost-effective and user-friendly cloud-based time and attendance software, check out our website at Fingercheck.com. Interested in our services? Sign up for a 30-day free trial and get started with FingerCheck today.