Calculation of Monetary Value of Leave Days Sold {pweb01pkg.html}

This option describes how monetary value is calculated when leave is sold of when leave is paid out as part of a severance package.

Monetary Value of can be calculated based on 

• The value of the Salary Notch {FPRI-1} of the personnel member (This method is referred to as "Notch") in the cycle on which the calculation is based
    or   
• The Leave Earning / Deduction calculation rules specified in the tab "Calculating Monetary Leave Values" of Leave Types {PLCS-2} (This method is referred to as "Package")
• This method will use transactions from the salary calculation of the payroll cycle on which the calculation is based, with the exception of the Earnings with calculation method "2 - Bonus", in which case the last Earning in the preceeding 12 months will be used.
• If no records for the Leave Type exists in the tab "Calculating Monetary Leave Values" of Leave Types {PLCS-2}, or no Salary Transactions for the person with the relevant Earnings or Deductions exists for the payroll cycle on which the calculation is based, the notch value is automatically used.

The influence of the indicator for (C)alendar Days or (W)orking Days in the Leave Package Structure {PLCS-3} is as follows:

• If set to (C)alendar Days, the value is (Annual Income / 365) * Days Sold
• If set to (W)orking Days, the value is (Annual Income / 12 / Average Working Days per month) * Days Sold

If the "Package" method is used, the set-up values in Leave Types {PLCS-2} is used as follows:

• The fields "Start Date", "Active To" and "Include for Selling of Leave" or "Include for Severance Package" is used to determine whether the specified Earning or Deduction is included in the calculation
• The field "Percentage Selling of Leave"  or "Percentage Severance" is used to determine the percentage of the Earning / Deduction to use.

• Procedures: