Calculating Gross Wages in Virtual TimeClock

Calculating Gross Wages in Virtual TimeClock

Virtual TimeClock Pro and Network editions allow you to easily track gross wages for budgeting and job costing purposes. By entering hourly and salaried wage information, Virtual TimeClock can compute your gross wages and aggregate your labor costs on designated reports and data exports.
 
Important Note:
Virtual TimeClock is not a substitute or replacement for your payroll program!  The software does not compute payroll deductions, employer contributions, or net employee pay.
 
Setting up Wage Tracking
You first will need to enter the salary or hourly wage information for each worker. If an employee's wage is not entered into Virtual TimeClock, then their gross wages will not be included in wage totals for job costing reports.

To enter a worker's wage into Virtual TimeClock:
  1. ​Select Turn Administration On from the File menu.
  2. Select Users from the Configure menu.
  3. Choose a user in the left column and select the Employment tab.
  4. For the Wage enter the wage and choose from the popup menu Hourly or Salary
  5. Select Apply to save changes.
Tip: The Notes tab in the user record is a great place to record dates and amounts as wages are entered and updated for each employee.
 
Salary Worker Labor Burden
Virtual TimeClock can track both salary and hourly worker wages. Virtual TimeClock automatically calculates salary worker's hourly burden by dividing their salary for the period by the average number of hours worked for the period. A salary worker's hourly burden will contribute to gross wage totals on reports. 

Reporting Gross Wages
Because of the sensitivity of wage information, worker wages are not included by default on any report. Virtual TimeClock's Report Writer allow you to selectively display gross wages on reports you designate. 

To display worker wage totals on a report:
  1. Select Turn Administration On from the File menu.
  2. Select Report Writer from the Configure menu.
  3. Choose a designated report in the left column.
  4. Select Report Options and click to check the boxes for the wage display options.
    • Total Gross Wages: Total and display the gross wages at the bottom of the report.
    • Show Hourly Wage/ Salary: This option will display a user's wage on the Timecard Detail or Timecard Summary report.
    • If either option is disabled or grayed out, wages cannot be included on this type of report.
  5. Select Save to apply changes to the report.
  6. Repeat steps 3-5 for each report that you want wages displayed on.
Note: Displaying gross wages is applied to one report at a time. The setting will not apply universally to all reports.
 
Exporting Wage Information
Virtual TimeClock allows you to easily export hours, overtime and wage data for further analysis in your favorite spreadsheet program. To export data from Virtual TimeClock:
  1. Select Turn Administration On from the File menu.
  2. Select the Export icon in the administrative toolbar.
  3. Select Export Type and choose the report.
  4. Select Setup and click Select to choose which fields you want exported. You can decide which fields are exported and the order they are listed.
Note: The options available for wage exports is dependent on the report exported.