Configuring Overtime Settings
Configuring Overtime
2. Locate ‘Management’, in the top menu bar, and select ‘Contract Management’ from the drop-down menu.
There will be three pre-made contracts available by default: 'Salary', 'Weekly 40h Daily 8h', and 'Weekly 40h'.
You have the option to utilize these or choose to add a new contract.
In the example below, we will take a look at the 'Weekly 40h' as this is a configuration is used by most companies.
3. To edit a contract, simply double-click on the desired one. This action will open the contract settings, allowing you to enable or disable various options. The primary one we'll be first looking at is 'Weekly Overtime'
To set up 'Daily Overtime,' kindly scroll down to the corresponding section.
4. Clicking on the 'Weekly-OverTime' tab will open. Here you will find multiple fields that will determine how Overtime is calculated.
Base Weekly Hours: The amount of regular hours per week. All hours that exceed this amount will be calculated as overtime.Name: The name you'd like the overtime to be labeled as.
Hours: The rate at which an employees pay rate will increase during overtime.
Duration (in hours): The amount of allotted overtime hours that are available to employees
5. Employees must be assigned to a given contract for OT to calculate correctly. Opening the 'Employees' tab will display two boxes. One labeled as 'Employees Without a Contract' and the other being 'Employees Assigned to the Contract'.
Simply choose an employee(s) and use the arrows between the columns to move them between the two options.
Tip: For Windows users, holding down CTRL allows you to select multiple employees simultaneously. Likewise, on Mac, holding down COMMAND achieves the same result.
Daily Overtime
1. From the 'General' tab in your contract, ensure that 'Daily Overtime Settings' are enabled
2. On the 'Daily-OverTime' tab, you will be able to edit each day of the work week to have custom OT rates. See below.
In this widely adopted arrangement, employees receive their regular paycheck rate for the initial 8 hours of the day. Once the 8-hour mark is reached, their earnings increase to 150% (time and a half) for the subsequent 2 hours. Beyond that 2-hour threshold, employees earn 200% (double-pay).
To modify the hours or percentage details, click on the respective field and select from the provided options.
3. The last step is to assign employees to this contract and click 'Save' to ensure your changes go into effect. If you're unsure how to assign employees, please see Step 5 of the Weekly OverTime guide above.
Changes made to overtime and break settings may require a few minutes to take effect, as the system recalculates punches and totals for your employees.Should you require more information or have questions about Overtime or any other feature offered by Timedox, please don't hesitate to get in touch with our support team.
470-554-7334 Ext 4 or support@timedox.us