G.T.R.
Data Inc.
Function
Keywords
This is the Payroll Function
Keyword Maintenance function. Payroll function
keywords are used in user defined
formulas. When you use a payroll
function keyword in a formula, the formula associated
with this function keyword is inserted into the
formula during formula calculation.
The highlighted function
will calculate the annual salary as a function
of the employees frequency. If the employee is
classified as hourly then the annual salary
would be the employees rate (eg 10.00) multiplied
by the number of hours in a typical work week (eg 40)
multiplied by the frequency of pay (eg 52).
In our example the annual salary would be 20,800.00.
This formula could be used
in a life insurance benefit calculation where the
premium might be a function of the annual salary.