Future Dated Rates can be used to automate the work of managing yearly position raises.
1. Future Dated Rate for an Employee
If the future dated rate will only affect one employee, it should be setup through the Employee Profile of that employee.
We’ll go over the steps to add a fixed rate future dated rate from the Employee Profile now.
Canadian Payroll > Employee Profile > Employee Profile.
Select the employee to add a future dated rate for, from the
Earnings > Future Dated Ratestab of the
Insert, at the bottom of Future Dated Rates, which will open the Insert – Future Dated Rates form.
Now that we’ve inserted a new future dated rate for the employee we need to set it up as required. We’ll do that in the next section.
1.1. Future Dated Rate Setup
The future dated rate that we are going to setup next will apply a new hourly rate to the employee on a specified Effective Date.
Earning Codeto apply a new rate for.
Effective Datefor the new rate.
Enter the new hourly rate into the
OKto save the future dated rate for the employee.
Caution: Effective Date
If the Effective Date is not the start of a pay period, the system will show a warning before creating the future dated rate.
(If you press No on the warning, an option to use the closest employee pay period for the Effective Date will be displayed.)
If you choose to use a future dated rate which does not start on the beginning of pay-period you should keep the following in mind:
Don’t forget the Units!
Don’t forget to select Hours from the Units drop-down to the right of the Rate field.
2. Future Date Rates for Many Employees
If you have to setup a future dated rate for more than one or two employees you may want to use the Generate Future Dated Rates function, instead of entering each future dated rate on the Employee Profile of every affected employee.
Future Dated Rates will only effect the master earning codes for employees. If an employee has a Position assigned to them, the Rate Source must be set to Master to be effected by the Future Dated Rate.
filtering employees using filters and selections,
selecting the Earning Codes to apply future dated rates to,
generating the future dated rates for the filtered employees.
You can filter by Pay Group, Salary or Hourly Status, as well as further selections such as Union Code, Location Code, Position, or Defaults Group.
We’ll go over the steps to generate an increase of 10% for all salary employees who are located in Calgary and part of a part-time pay group now.
Canadian Payroll > Payroll Data Entry > Future Dated Rates > Generate Future Rates.
2.1. Future Rate Definition
The Future Rate Definition tab will be opened by default when you first open Generate Future Dated Rates. From this tab you can setup the effective date, which employees to include, as well as how to save the generated future dated rates.
We’ll go through the steps of setting up the Future Rate De
Effective Dateselect the date when the new rate will go into effect.
Filter salary employees by enabling the
Auto Pay Earnings.
Pay Groupsfor the part-time employees.
Save As: Future Dated Ratesto add the generated future dated rates to the selected employees once they have been generated.
Open the Selections tab next by pressing
Caution: Auto Pay Earnings
When Auto Pay Earnings is enabled only those Earning Codes with the
Selections allow further filtering on the employees using the Union Code, Position, Location, Default Group.
We’ll use the selections tab to further filter the employee to only those that are working from the Calgary location.
Selectedoption of the
Location Codefor the Calgary location now.
Earning Codestab next by pressing
2.3. Select Earning Codes
From the Earning Codes tab you are able to select which codes to generate future dated rates for.
Percent of Basic
Most of the time you will probably only want to generate a future dated rate for Regular Earnings, and allow the other codes to be updated according to their percent of basic.
Earning Codeto apply a future dated rate to.
Earning Calculation Methodtab next by pressing
2.4. Earning Calculation Method
From the Earning Calculation Method tab you can control exactly how to generate the future dated rate for each Earning Code that was selected previously.
You can choose to have the existing rate replaced by a new future dated rate entirely,
Or you can choose to create the future dated rate as a percentage of the current rate.
We’ll setup the Regular Earnings code that was selected previously to generate a future dated rate as a 5% increase of the existing rate.
Select the Regular Earnings
Setup the Earning Calculation for the selected Earning Code by pressing
Select the Pay Basis for the new rate.
Enter the Increase Amount for the new rate.
Save the new Earning Calculation by pressing
2.5. Generate Future Dated Rates for Selected Employees
Preview the generated future dated rates and affected employees by pressing
Generate.Review Before Continuing
You should take a moment to review the Results listing now to ensure that only the employees you intended to give future dated rates to have been included.
To save the future dated rates you must press
Continueand a confirmation box will appear. This is the last chance to cancel before the generated future dated rates are added to the affected employee’s Employee Profile.
Once you have confirmed that the future dated rates are correct press
Yeson the confirmation box to finish.
The generated future dated rates can be viewed from the Employee Profile of the affected employees.