Timesheet calculations: monthly rate workers
For workers on a monthly rate engagement, Beeline Professional calculates timesheet amounts based on a bill rate expressed per month. Unlike hourly or daily rate workers, monthly rate workers are compensated a fixed amount each month regardless of the number of days worked. However, worked hours are still entered on timesheets and are used to calculate any adjustments to the monthly amount. Rate structures are defined in Settings and applied to engagements, where the amount or formula can be configured for that specific engagement.
How rates are calculated
A monthly rate is a fixed amount defined on the engagement. To calculate timesheet amounts, the system breaks the monthly rate down as follows:
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Monthly rate / working days = daily rate
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Daily rate / hours per day = hourly rate
The number of working days is determined by the work schedule and holiday schedule configured on the engagement.
For example, if a worker’s monthly rate is $1,000.00 and there are 20 working days in the month at 8 hours per day, the effective hourly rate is $6.25/hr. If the worker submits all 160 hours, they are paid the full monthly rate. If they submit fewer hours, their pay is adjusted accordingly.
Overtime
Overtime for monthly rate workers is handled the same way as daily rate workers. Because the bill rate represents a full month rather than an hour, overtime cannot be calculated as a multiplier of the bill rate. Instead, overtime is defined as a separate static hourly rate on the engagement.
Overtime hours are entered separately from regular time using a dedicated overtime time code and appear as a separate line on the timesheet.
What you see when approving
When reviewing a timesheet, the summary panel displays the timesheet period, status, total hours, and total amount. Regular time and overtime appear as separate lines. The total shown reflects the sum of all submitted lines, each calculated at its respective rate.
When a timesheet rule has been applied to an entry, a question mark icon appears next to the time code. Selecting the icon displays the rule details, including the rule name, the input the worker provided, and the output the rule calculated. For more information about timesheet rules, see About timesheet rules and Building timesheet rules.
For more information about how monthly rates are structured and how time entry works for monthly rate workers, see About monthly, daily, and unit-based rates.
For information on how different timesheet amounts are rounded, see About rounding.