Spreads the salary for the selected job evenly over payable days within the date range for the job, so the pay closely matches the earnings during each pay period.
Allows you to pay the earnings in one or more lump sums by selecting the payroll period(s) in which the lump sum(s) will be paid. An example would be a coach who wishes to receive one payment at the end of a season.
Taxes are assessed at the time of the lump sum payment(s).
Distributes the salary over payable days within the date range you specify. Paycheck amounts are always the same. The plan spreads the contract pay over a period longer than the contract period.
Make sure that the begin & end dates fall within existing payroll periods in the payroll cycle. If not, add enough payroll periods to cover the dates of the payment plan. Note: Payroll periods are created in Payroll Configuration.
You could use this payment plan to spread pay over 12 months for a teacher with a 9-month contract who wants paychecks over the summer.
Spreads the salary over the payable days within the date range you specify and pays a balloon payment on the date you select. The compensation is evenly spread over 12 months, and paycheck amounts are the same until the balloon payment.
The end of the payment plan will normally be later than the end of the job. A teacher with a 9-month contract could finish teaching at the end of May and then receive 3 months pay in a balloon payment at the end of May.
In this example, you would set the begin date at the beginning of the school year and the end date at the end of the following summer.
As with the Evenly Over Date Range plan, you need to make sure that the begin & end dates fall within existing payroll periods in the payroll cycle. If not, add enough payroll periods to cover the dates of the payment plan. Note: Payroll periods are created in Payroll Configuration.
See Balloon Payment Multiplier for more information.
Distributes the salary over the number of periods you specify. The employee’s paychecks are the same regardless of the number of payable days in each period. The disbursement calculation is the salary divided by the number of periods you define.
Distributes the salary over the number of periods you specify with a balloon payment on the date you specify to create a distribution of the remaining salary at that date. You could use this plan for employees who want a 3-month payment at the beginning of the summer.
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