Pay codes assign a multiplier to your rate. Typical pay codes are Overtime at 1.5x and Holiday at 2x. When you create a new time off type, you will need to associate a pay code with that type.
To create a pay code, first navigate to the settings module. Click the view pay codes button in the payroll section.
Next, click the 'create pay code' button.
This will take you to the create pay code page.
Here you have several fields in.
Fields:
- Name: The name of the pay code.
- Categories: The pay category that the code is associated with. This determines what this pay will show up as in the pay run (OT, PTO, Holiday, Absent, Other Pay).
- Pay Rate: The multiplier for your hourly/salaried rate. If the amount is to be deducted, it will be a negative multiplier. Typically overtime is 1.5x and holidays are 2x.
- GL Code: The GL code for your accounting software.
After you've filled in the required fields you can select the 'create pay code' button and your changes will be made live.