Earnings and Deductions Functions & Features

Earnings and deductions include all monies payable to and deducted from an employee for services rendered. Earnings may include wages, commissions, and bonuses. Deductions may include taxes, benefits, etc.. Earnings and Deductions Functions & Features are an important module of the comprehensive HCM RFP Template.

The HCM RFP template with Earnings and Deductions Functions & Features for HCM is a Microsoft Excel spreadsheet (.xlsx) featuring a total of 1430 decision criteria. The HCM RFP template allows you to quickly and easily prepare the business, functional, and technical requirements sections of the solicitation package you'll send to HCM software vendors. It ensures for:

complete response from each HCM software vendor
deep and accurate evaluation of submitted HCM proposals
impartial side-by-side comparison of HCM solutions evaluated
rational and documented selection of the best matching HCM system

The HCM software comparison report can save you up to 90% of the time you would have otherwise spent comparing all the HCM solutions from scratch.

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The Earnings and Deductions Functions & Features comprise the following elements:

Earning types include hourly employee, with and without time tracking
Earning types include hourly employee, with and without time tracking, Earnings and Deductions Functions & Features
Earning types include salaried and salaried/exempt
Based on information in employee files, the system can establish whether the salary type is exempt or non-exempt. Earnings statements are calculated in accord with the type of salary determined. Exempt employees don't receive overtime pay; nonexempt employees do. Earning types include salaried and salaried/exempt, Earnings and Deductions Functions & Features
Earning types include weekly, bi-weekly, semi-monthly, monthly, and special (executive) pay cycle
Earning types include weekly, bi-weekly, semi-monthly, monthly, and special (executive) pay cycle, Earnings and Deductions Functions & Features
Retroactive payments are automatically calculated based on the date (e.g. promotion)
Retroactive to previous year required. Retroactive payments are automatically calculated based on the date (e.g. promotion), Earnings and Deductions Functions & Features
User-defined deductions (unlimited)
Allows for both an unlimited amount and for various deduction types. Deduction examples could be state or local tax; employee-requested withholding; payments toward benefit plans; or wage garnishments. User-defined deductions (unlimited), Earnings and Deductions Functions & Features
Control deductions by start and stop dates
Control deductions by start and stop dates, Earnings and Deductions Functions & Features

TEC Advisor can save you up to 90% of the time you would have otherwise spent figuring out on your own which HCM solution is the best for your needs.

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Earnings and Deductions Functions & Features

Earning types include hourly employee, with and without time tracking

Earning types include salaried and salaried/exempt

Earning types include weekly, bi-weekly, semi-monthly, monthly, and special (executive) pay cycle

Retroactive payments are automatically calculated based on the date (e.g. promotion)

User-defined deductions (unlimited)

Control deductions by start and stop dates