How should I derive an hourly cost rate for salaried employees?
Unanet Hourly Cost Rate Calculations
Hourly Cost Calculation
Time Period Setup*
Work Hours per Period
Annual Salary / Working hours in a year (e.g. 2080)
Work Hours = working hours per year / 24
86.6667 (if using 2080)
Weekly Salary / 40
Work Hours = 40
Biweekly Salary / 80
Work Hours = 80
Unanet recommends that you align your Unanet timesheet with your payroll period. If you pay biweekly, for example, you should use biweekly or weekly timesheets.
* Time period setup - Unanet Work Hours defaults to 2080 work hours per year. Only change default if Work Hours per period is something other than 2080.