Summary
Human Resources > Workforce Administration > Search > Employee > Contracts
Note: Access to this feature requires separate licensing.
The Summary section, located immediately below the Employee Contracts section, summarizes the employee’s active contract, showing the total amount of the contract, the total amount of adjustments within the current payroll, the total amount that has been paid on the contract, the remaining balance of the contract and the amount of the standard check issued for the contract.
Note: This section does not display data until you have selected a contract in the Employee Contracts grid.
| Field | Description |
|---|---|
| Contract Amount | Total dollar amount of the contract. This amount comes from the Pay Rates grid in the Payroll section of the Jobs tab. Changing the pay rate on the Jobs tab does not affect the Contract Amount in the Summary section. |
| Adjustment Amount | Total dollar amount of the adjustments that have been made to the contract. |
| Paid Amount |
Total dollar amount of the contract that has been paid to the employee to date within the payroll start and end dates of the contract, using the hours code that has been designated in Maintenance as applicable to contract pay. Including payments made by separate or manual checks written as a result of contract adjustments, this amount increases accordingly with each payroll post. |
| Remaining Balance | Contract Amount plus the Adjustment Amount minus the Paid Amount. |
| Standard Check | Dollar amount of each check paid to the employee, equal to the Remaining Balance divided by the Remaining Periods (from Contract Detail section of Employee Contracts). This amount may change as a result of adjustments. |
Contract Amount = $60,000
Adjustment Amount = $2,000
Paid Amount (have paid 10 out of 20 pays) = $30,000
Remaining Balance = $32,000
Standard Check (if 10 pays remain) = $3,000
If number of payments is changed so that 8 remain instead of 10, the Standard Check equals $4,000 (Remaining Balance of $32,000 divided by 8 payments)