How to create a new Hourly Pay Policy

Brian Zurawski

9 Oct, 2024 - Updated 1 month ago

How to create a new Hourly Pay Policy

Creating custom pay policies in TimeTrakGO allows you to tailor time and labor calculations to specific employee groups. This article will guide you through the process of creating a new pay policy, including configuring overtime settings, pay codes, and meal break rules.

Steps:

1) Access the Pay Policies and Overtime Feature:

Log in to your TimeTrakGO account.
Navigate to the "Feature Manager" section.
Locate and select the "Pay Policies and Overtime" feature.

2) Open Pay Policy Settings:

Click on the "Settings" button within the Pay Policies and Overtime feature.

3) Create a New Pay Policy:

Click the "Add New Pay Policy" button to create a custom pay policy.

4) Provide Policy Details:

Enter a descriptive name for the new pay policy (e.g., "Salaried with Overtime").
Select the appropriate policy type. For this example, choose "Hourly."
Click the "Save" button to create the new pay policy.

5) Configure Overtime Settings:

Once the pay policy is created, navigate to the "Overtime" tab within the pay policy settings.
Define overtime rules, such as when overtime starts (e.g., after 40 hours in a workweek)
Specify any overtime exceptions or premium pay rules if applicable.

6) Verify Pay Codes:

Go to the "Rules" tab within the pay policy settings.
Review the default pay code for regular hours and verify the overtime pay code if it's applicable.
Ensure that the pay codes align with your payroll system and reporting requirements.

7) Configure Meal Break Settings:

Navigate to the "Breaks" tab within the pay policy settings.
Define meal break durations, whether they are paid or unpaid, and any specific meal break policies (e.g., clocked, auto, none).

Additional Tips:

Once created, you can further customize the pay policy by adding additional pay codes or adjusting other settings as needed.
Test the new pay policy with a small group of employees to ensure accurate calculations before applying it to a larger population.
Regularly review and update pay policies to comply with changing labor laws and company regulations.

By following these steps, you can create comprehensive pay policies in TimeTrakGO that accurately reflect your organization's time and labor practices.