No matter the size of your business, employee labour cost will form a significant part of your ongoing expenses. To give you greater flexibility and precision for calculating this expense, Bizimply provides four options for categorising the labour costs of salaried employees:
This article will cover the Allocated Hours category.
To find out more about the other categories, click here.
What does Allocated Hours mean?
This costs the employees hours based on the hours that they are scheduled, similar to costing an hourly paid employee. E.g. £12.50 x hours scheduled.
To calculate the hourly rate, enter in the employee's Weekly Salary Rate and their contracted hours.
Shifts are costed based on hours scheduled
Greater flexibility when costing salary employees