About Pay Rate and Labor Cost Allocation Calculations

Pay rates can be recalculated without having to repost all transactions when a retroactive change occurs, and labor cost allocations can be recalculated without recalculating timekeeping.

You can recalculate a pay rate when a change has occurred. For example, if a contract negotiation has resulted in a pay rate increase effective on July 1, but the negotiations weren't complete until October 1. You can print a report with the original pay rate, recalculate the pay rate, then run a report with the new rate. You can send both reports to payroll to clarify the difference and what's owed to employees.

To recalculate pay rates, select Timekeeping > Recalculate Pay Rate .

If values for general ledger account components change, you can recalculate labor cost allocations by recalculating timekeeping. Select Timekeeping > Generate Labor Cost Allocation.