- Each year or cycle you will need to manually adjust your proration Start Date and End Date values as these do not automatically adjust each year. These should be within the same fiscal year.
Available from Admin Tools > Company Processes & Cycles > Compensation > Compensation Home > Select a Plan > Plan Setup.
- Enable Salary Proration: Flag to enable this option.
- Fiscal Year End Date: Enter the End date, typically Dec 31st for many clients. Note: The system currently calculates proration based on 365 day period. 2016 is a leap year and will contain 366 days. At this time we recommend users will need to set the end date as 12/30/2016 otherwise calculations would only payout at 99.7% since our system is set at 365 days not 366.
- Prorate Based On: Date or Percentage.
- Proration Date: Set your date range (Typcially 1 year period). Note: if you fail to update your dates then your salary proration will be wrong and possbily result in negative or incorrect numbers.
- Prorate Salaries based On: Hire Date or Enable prorating start and end date from user file.
KBA , sf compensation prorating , LOD-SF-CMP , Compensation Management , How To
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