GC2023
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Re: Annual Leave Accrual Daily Rate Calculation
Heres your problem >2.923 hours ÷ 5 days = 0.7308 hours per working day Its Not ! 2.923 / 5 = 0.5846 ! ! ! ! I would think this is a MAJOR FAIL for an Accountancy Application/Organization... As seen on: https://www.myob.com/au/resources/guides/workforce-management/annual-leave FYI - They manage to calculate the Part Time example correctly. How do you calculate annual leave entitlements? You calculate annual leave entitlements pro-rata based on an employee’s ordinary working hours. For example,a full-time employeeworking a 38-hour week throughout the year accrues annual leave at the rate of 2.923 hours per completed week of service (152/52 = 2.923), which equals 0.7308 hours of annual leave per working day. Use the formula: 152 hours of annual leave ÷ 52 weeks = 2.923 hours 2.923 hours ÷ 5 days = 0.7308 hours per working day However,a part-time employeewho works a 20-hour week (four hours a day, five days per week) for a whole year accrues annual leave at the rate of 1.538 hours per completed week of service (80/52 = 1.538), which equals 0.3076 hours of annual leave per working day. Use the formula: 80 hours of annual leave ÷ 52 weeks = 1.538 hours 1.538 hours ÷ 5 days = 0.3076 hours per working day2.2KViews0likes1Comment