Just added, new margin deduction option!
Margin per Period End Date - This new margin structure has been developed to utilise the week end date field which is contained within the timesheet import. A margin is charged for each unique week end date that is present on a timesheet. The idea is to capture the margin charge for each week worked.
For example, if a worker is due to be paid 2 different timesheets in the same payroll week, for hours worked in different weeks, this method of charging a margin will ensure that 2 margin charges are applied. This method also ensures that if a worker has multiple timesheets - but relating to the same week (period end date) then only one margin is charged as the work was completed in the same week.
There are many different ways in which a user may deduct a margin, these can differ from agency specific to simply the hours worked by the worker to determine the margin. Here’s a list of our other flexible margin deductions:
% of Timesheets - calculates a margin based on a percentage entered in the agency profile. The margin is calculated using the gross timesheet amount.
Fixed Fee - Applies a fixed fee margin. The fixed fee is applied to the payslip for that week, regardless of the amount paid to the worker or the number of timesheets processed.
Total Hours - Uses the hours worked to determine the margin. Allows the user to enter a staggered approach. Example: 0 - 9.99 = £3, 10 - 19.99 = £6 etc.
Fixed on Timesheets - This approach takes the number of timesheets present in the current period and applies the margin per timesheet. Only the number of timesheets is taken into consideration using this method.
Value on Timesheets - Uses the gross pay from timesheets to determine the margin. Again, this allows the user to enter a staggered approach, where the margin can increase in increments the more a worker has earned.
Value on Net Pay - Uses the Net Pay as opposed to the gross pay to calculate the margin. Staggered increments can be added if required.
If you’d like to find out more information about how Recruit Payroll can help benefit you and your business visit our website www.recruitpayroll.co.uk or call our friendly team on 01260 218667 to discuss your requirements.