Please help me figure out what's going on here. We are in BC, and our employees are paid out their vacation pay per cheque. An employee recently completed 5 years here, and I updated his employee card to reflect 6%. All hourly employees also have "Calculate Vacation on Vacation Paid" checked, and obviously "Retain Vacation" is unchecked.
The 5 Year Employee emailed to say that according to Part 7 Section 58 Subsection 2(b), after 5 years he is entitled to a 2% adjustment. I've never heard of this so started looking into it and was first of all wondering if "vacation paid on Vacation" was somehow related.
But then when I ran some numbers, I'm finding that the vacation Sage has calculated his vacation time short. When calculating yearly gross by 4%, it's around $100 short over the year. When I look at the actual number with two digit decimal, it says 4%, but its actually 3.85 if expanded to 4 decimal points, so overtime and when calculating the larger sum of total gross earnings, there's a discrepancy.
So my questions:
-If Vacation is supposed to be paid on vacation, wouldn't the paid out rate end up being higher than 4% (for pre-5y employees)?
-On the Settings>Incomes chart, in the "Calc.Vac." column, should there be a check beside Vac.Paid (current isn't)
-How do I enter corrections for employees affected by these, if there are miscalculation?
Thanks for your help!
