About paycodes
Paycodes enable you to organize time or money that employees earn, and identify spans of time for payroll purposes.
- Time paycodes accrue hours and can be for worked (productive) time, or for unworked (non-productive) time. Regular and Overtime are examples of paycodes for worked or productive time. Vacation and Sick time are examples of paycodes used for unworked or non-productive time. A multiplier can be defined for time paycodes. For example, an overtime paycode could have a multiplier of 1.50 for time and a half.
- Money paycodes accrue monetary amounts. Bonus is an example of a paycode that holds a monetary amount. A special type of money paycodes called wage paycodes can be used for historical corrections.
In addition to these standard types of paycodes, the system uses several additional types of paycodes:
- Duration paycodes — Paycodes that are used in the paycode distribution assigned to a work rule that is used for a duration of time that employees are paid as worked even though the employee might have taken off-time. Also see, Duration paycode configuration options. Note: A duration paycode cannot be used to "take" or deduct time from an accrual balance. Additionally, duration paycodes do not appear as an option when requesting time-off. A duration paycode represents a span of time, and to allocate this time, the system first determines how it will distribute the hours across specific taking paycodes. These taking paycodes are associated with various accrual policies (accrual buckets). When the span of time is processed, hours are allocated across the appropriate taking paycodes to determine how much time is deducted from each accrual bucket.
- Cascading paycodes — A cascading paycode is a paycode type that is set up to charge time across multiple accrual codes. A cascading paycode can be set up to charge time in a hierarchical flow through multiple accrual codes or it can be used to charge multiple accrual codes concurrently.