Melody Scott
asked on
Vacation Accrual
Hi, I'm moving away from a job where I was a contractor. I worked and got paid 110 hours every 4 weeks. I also, over the years, always got 4 weeks off, so I got 110 hours off every year.
I've will have worked 33 pay periods since Jan 1, 2016, when I leave at the end of the week. How can I calculate how much vacation time I've accrued?
I'm not sure if anyone here can answer, as it's basically an accounting question, but maybe, so here it is. Thanks.
I've will have worked 33 pay periods since Jan 1, 2016, when I leave at the end of the week. How can I calculate how much vacation time I've accrued?
I'm not sure if anyone here can answer, as it's basically an accounting question, but maybe, so here it is. Thanks.
ASKER
Thanks, John, So that is 33 divided by 13 (52 weeks divided by 4) = 2.5x4=10. But I'm not sure what that 10 represents.
^John's formula is correct.
Since you stated you're on pay period 33, that agrees with a weekly pay cycle (August 7-13 is week 32 or 33, depending on the fiscal calendar).
No points, but that formula calculates to 69.81 hours total, less any vacation you've taken this year.
[(33/52)*110] = 69.81 (then subtract vacation used from that total).
Since you stated you're on pay period 33, that agrees with a weekly pay cycle (August 7-13 is week 32 or 33, depending on the fiscal calendar).
No points, but that formula calculates to 69.81 hours total, less any vacation you've taken this year.
[(33/52)*110] = 69.81 (then subtract vacation used from that total).
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ASKER
Thanks, all!!
You are very welcome and I was happy to help
ASKER
Hi- wait, one thing. The reason I had the extra four is this. You had 33x52 weeks in a year, But my pay period is for 4 weeks.
It does correspond to a weekly pay period, yes, but every 4 weeks, not every week. It seems off to me. I've worked 7.5 out of 12 months, so 62% of my work year. 62% of 110 hours is 68.2 hours, I think I might use that.
It does correspond to a weekly pay period, yes, but every 4 weeks, not every week. It seems off to me. I've worked 7.5 out of 12 months, so 62% of my work year. 62% of 110 hours is 68.2 hours, I think I might use that.
You can do that. I said roughly 70 hours and you got 68 (I just approximate) so that is good.
ASKER
Thanks, John. I'm ok at designing websites, but arithmetic has always made my head hurt. :)
Yes, I understand. I do accounting consulting so my head is always full of numbers.
(33 / number of pay period in a year) x 4 weeks less any vacation you took this year. That should suffice nicely and how I do it for clients.