May 11, 2019 at 6:33 am #40067
Two main needs for the compensation features of the HR module:
1. Annual Salary Pay Type
Most full-time employees are paid based on an annual salary, but currently that is not an option in the “Pay Type” dropdown. If there's a simple filter PHP snippet to add that as an option I'd love to use that. Our employees are paid an annual salary and raises are in relation to their annual salary. Naturally they are paid bi-weekly, so I'm using that for now, but for the purposes of the HR module it would be more instructive for us in the “Salary History Reports” to see the Annual Salaries.
Even in the Github issue where you implemented the Salary Reports, you show a report reflecting Annual Salary:
2. Support Currency
It would be helpful to have a global option to set what the company currency is and have that reflected automatically in all compensations.
Additionally, it seems the reports act strange if a currency is placed in the compensation field — though there is no validation that prevents that from happening. So for consistency it would be helpful to either validate against currencies in the field, or have the currency reflected automatically.
Of course multiple currencies becomes an issue or concern as well, but a good “MVP” feature would be global currency support.
May 15, 2019 at 3:18 pm #40315
Thanks for letting us know your findings. We really appreciate that 🙂
However, for the annual salary, we have confusion here. Let me say in details, Suppose, we have an Employee who gets paid 30,000$ in a year. But, we'd like to pay him bi-weekly or weekly. Fine.
But, a calendar year doesn't complete weeks each time. So, what will happen in those cases? Suppose the year got ended in between the week? Like, 2 days of the week are in the current year and the rest is on the next year? What will be the payment then?
Same for the leap years. If a year gets an extra day, what will be the payment?
Surely we can have an option for annual but I'm confused on how to manage the annual salary paying in bi-weekly or hence. I'd love to hear your thoughts in that case.
Yes, we have the plan to bring the multicurrency in the near future. You'd be glad to hear that, we are working to develop our accounting module in an advanced way than the current one 🙂
Yes, there should have validation. We'll have a look at this.
July 2, 2019 at 8:13 pm #44162
52 weeks in a year. Always. Most bookkeepers (at least in the US) deal with an annual salary, that is calculated according to 52 weeks in the year.
July 3, 2019 at 6:02 pm #44335
October 23, 2019 at 1:19 am #55583
I think generally speaking, a annual salary is typically also converted into an hourly rate. So as long as you know the number of work hours in a given week or day then the calculation should be relatively straight forward.
I don't know exactly how you implement this, but I'm just chiming in as saying that as a feature we would prefer to add new Job entries to our employees based on Annual Salary because that's how all our full-time employees compensation is set.
October 23, 2019 at 11:19 am #55637
I understand. Okay, I'm keeping this on our feature request log, we'll analyze it and consider the annual pay type in the future if we get enough request on this 🙂
I think this would be a great addition. Thanks for arising the topic 🙂
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