0066 - Monthly Salary
Description:
Computes an individual's monthly salary/wages based on their paycheck and the pay period.
Computes an individual's monthly salary/wages based on their paycheck and the pay period.
Monthly Salary: IF PayPeriod-m = "Weekly" CheckAmount-n * 52 / 12 ELSE IF PayPeriod-m = "Every other week" CheckAmount-n * 26 / 12 ELSE IF PayPeriod-m = "Twice a month" CheckAmount-n * 2 ELSE CheckAmount-n END IF Monthly Salary - Variation: IF PayPeriod-m = "Weekly" CheckAmount-n * 4.3 ELSE IF PayPeriod-m = "Every other week" CheckAmount-n * 2.167 ELSE IF PayPeriod-m = "Twice a month" CheckAmount-n * 2 ELSE CheckAmount-n END IF Yearly Salary: IF PayPeriod-m = "Weekly" CheckAmount-n * 52 ELSE IF PayPeriod-m = "Every other week" CheckAmount-n * 26 ELSE IF PayPeriod-m = "Twice a month" CheckAmount-n * 24 ELSE CheckAmount-n * 12 END IF
This computation takes the amount on an individual's paycheck and the pay period (weekly, every other week, twice a month, or monthly) and computes either the individual's monthly or yearly salary. Whether the salary is gross or net is at your discression.
The computation requires two variables: "CheckAmount-n," a number variable for the salary from a single pay stub, and "PayPeriod-m," a multiple choice variable for indicating how often the individual is paid. The "Other" option for PayPeriod-m should be disabled, and it should be set as "Check one only."
Monthly salary is computed by multiplying the check amount by: 52 (weeks) / 12 (months) for weekly checks, 26 (52 weeks / 2) / 12 (months) for every other week, 2 (pay periods a month) for twice a month, and just the check amount itself for monthly checks (assumed if the pay period is not one of the others).
A variation is required by many jurisdictions. In the variation, monthly salary is computed by multiplying the check amount by: 4.3 for weekly checks, 2.167 for every other week (bi-weekly), 2 (pay periods a month) for twice a month, and just the check amount itself for monthly checks (assumed if the pay period is not one of the others).
Yearly salary is computed by multiplying the check amount by: 52 (weeks) for weekly checks, 26 (52 weeks / 2) for every other week, 24 (2 times per month * 12 months) for twice a month, and 12 for monthly checks (assumed if the pay period is not one of the others).
This template has everything you need set up and configured for you. It will work as-is, or can be adapted to your variable and dialog names. It contains: 1) sample Word and WordPerfect templates (or an Automator form) to demonstrate an implementation of the computation, 2) a component file containing the computation and all supporting dialogs and variables, and 3) instructions for adapting the computation for your use.