Paycodes A category of time or money that employees earn, for example, Regular Hours, Bonus, or Sick. enable you to organize time or money that employees earn, and identify spans of time for payroll purposes.
- Time paycodes accrue hours and can be for worked (productive) time, or for unworked (non-productive) time. Regular and Overtime are examples of paycodes for worked or productive time. Vacation and Sick time are examples of paycodes used for unworked or non-productive time. A multiplier can be defined for time paycodes. For example, an overtime paycode could have a multiplier of 1.50 for time and a half.
- Money paycodes accrue monetary amounts. Bonus is an example of a paycode that holds a monetary amount. A special type of money paycodes called wage paycodes A type of money paycode that converts historical correction hours into a wage amount that goes to payroll. can be used for historical corrections Edits that occur after timecards are approved and signed-off..
In addition to these standard types of paycodes, the system uses several additional types of paycodes:
- Duration paycodes — Paycodes that are used in the paycode distribution assigned to a work rule that is used for a duration of time that employees are paid as worked even though the employee might have taken off-time. Also see, Duration paycode configuration options.
- Cascading paycodes — A cascading paycode is a paycode type that is set up to charge time across multiple accrual codes. A cascading paycode can be set up to charge time in a hierarchical flow through multiple accrual codes or it can be used to charge multiple accrual codes concurrently.