NEWCNT – What you need to know…

4 – New contract options

  1. New Contract built from old contract
  2. Mid-Year contract change – no retro
  3. Mid-Year contract change – retro spread over remaining pays
  4. Mid-Year contract change – lump sum retro

Option 1 - New Contract

Do NOT change calendar start date…

The ‘Clear’ function is your friend

Required fields – Contract amount, obligation, contract start date, job status

Use calculate function to verify pay per period, rate, etc…

For all mid-year changes

Verify - Amount Paid, Due, Earned, Docked/Dock next pay – Pays/Paid – Days/Worked in JOBSCN

Know the ‘true’ new contract amount (this is not a combination of old and new figures…)

Old amount earned= old daily rate x number of days worked

New earnings = new daily rate x number of days remaining on contract

Option 2 – Mid-year no retro

Obligation = old amount earned + new earnings

Pay per period = (new obligation – paid – docked) / pays remaining

Option 3 – Mid-year retro spread

Retro amount= (new daily rate – old daily rate) x number of days since raise

Obligation= old amount earned + new earnings + retro amount

Amount due= old amount due + retro amount

Amount earned= old amount earned + retro amount

Pay per period= (new obligation – paid – docked) / pays remaining

Option 4 – Mid-year retro lump sum (but not the entire retro amount…)

Retro amount= (new daily rate – old daily rate) x number of days since raise

Obligation= old amount earned + new earnings + retro amount

Amount due= old amount due + retro amount

Amount earned= old amount earned + retro amount

Full pay per period= new contract amount / number of pays

Actual pay per period= (new obligation – paid – docked - lump) / pays remaining

Lump sum when days since raise = days worked

= (full pay per period – old pay per period) x pays paid

Otherwise

If biweekly = (full pay per period – old pay per period) x (days since raise / 10)

If semi-monthly = (full pay per period – old pay per period) x (days since raise / 11)

Lump sum spread= retro – lump (unless either are less than zero … if this happens call)

State Software NEWCNT documentation -