Kuali Budget Construction Training Catherine Maddaford KBC Administrator.

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Presentation transcript:

Kuali Budget Construction Training Catherine Maddaford KBC Administrator

EXAMPLES: POOLED POSITIONS Open and Pooled Positions – Specific Examples

Overtime Use the non-exempt pooled position for your overtime budget. Use object code There is NO comp plan for overtime, so you will get the missing comp plan error message, but you can add the funding line anyway, and save the position, as long as you are using your dummy position, not a real position.

Calculating overtime Your non-exempt dummy position is set most likely to 40 hours per week. If you keep the default dates on the funding line as they are, then KBC is calculating 2120 times the hourly rate to get the total allocated amount. Take the total you want to budget and divide it by 2120 to get the hourly rate. Enter the hourly rate in KBC. You will most likely not get the exact number you want because of the calculation, but it will be close within a few dollars.

Example - overtime Desired budget is $5000 for overtime. 5000/2120=2.36 (rounded) Enter $2.36 as the pay rate in KBC, and the allocated budget will be $5003 if you leave the default cost allocation dates as is. To get exactly $5000, you can change the cost allocation dates to one pay period, which is 80 hours. Calculate $5000/80=$ Enter $62.50 as the pay rate, and change the cost allocation dates to 6/18/15-7/1/15, which represents one pay period, and your allocated total will be $5000.

Payments is used for payments that are usually handled as one-time payments in Workday. Because there is no comp plan for this type of pay, but there are fringe benefits charges, you are going to get a missing comp plan error. You must “pool” these entries, since you can only override the missing comp plan error in a pooled position.

Monthly is a monthly payment object code, so you must use your exempt pooled position. If you are paying this in a lump-sum payment, enter the comp plan and cost allocation start and end dates to cover one monthly pay period. Enter the monthly rate to be the same as the full payment, and KBC will calculate the allocated total based on one payment.

Example pool One-time payment of $5,000. Enter $5,000 in the pay rate. Enter 7/1/2015-7/31/2015 as both the cost allocation and the comp plan start and end dates – this represents one monthly pay period. KBC will calculate the total allocated as $5,000. If you have multiple one-time payments to different employees, add them together, and enter the sum as the pay rate. Use the same dummy position for all of them, entering one line per account and object code.