A new option has been introduced to the 13th Month Calculation feature, allowing the payroll system to generate the latest payroll rate based on the employee's payroll settings. This ensures that the 13th-month pay is calculated using the most up-to-date payroll rate.
Steps to Enable the New 13th Month Calculation Option
1. Navigate to Company Information
- Click the profile icon in the upper-right corner of the page
- Go to Administration > Company Information.
- Select Edit Company to modify the company’s payroll settings.
2. Access Payroll Settings
- Go to the 3rd page of the company settings where the Payroll Settings are located.
3. Enable the "Recent Pay Rate" Feature
- On the Payroll Settings page > 13th month computation, you will find the new feature:
"Recent Pay Rate". - Enable this option to calculate the 13th-month pay based on the employee’s latest payroll rate (from their payroll settings).
4. Save Changes
- After enabling the feature, click Save in the lower-right portion of the page to apply the changes.
5. Verify 13th Month Pay Calculation
- The system will now automatically calculate the 13th-month pay using the most recent payroll rate when processing payroll.
- Ensure that the calculation reflects the correct pay rate in the payroll report.
Important Notes
- The Recent Pay Rate option should be enabled at the company information for it to apply to all employees.
- This feature ensures that the 13th-month pay is calculated accurately, using the latest salary data in the payroll settings.