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krklndsvc
December 15, 2018
Solved

Setting rate for vacation

  • December 15, 2018
  • 1 reply
  • 0 views

We have a policy that the employees accrue vacation at the rate of 0.01346 per hour worked. When I key that rate in, QuickBooks changes it to 0.01333 and it changes it to that rate for every digit after that until I get to 0.0135 at which time it changes it to 0.01361. I can not put in the rate I want. I have tried this in QuickBooks desktop 2017 and 2019 and it does the same thing in both versions. For my next highest category the accrual rate is 0.02833 and it lets me put that rate in just fine.

Why won't it let me put in the lower rate that I want of 0.01346?

 

Any help on this would be greatly appreciated. The boss does not like me to tell him something is not possible.

Best answer by

QB stores time in seconds, but allows you to display it in decimal form.  So, when you enter a decimal number it converts it to seconds, which rounds it, then it displays it as a decimal based on those seconds.

 

In your case, you're entering 0.01346, which is 48.456 seconds.  So, QB rounds this to 48 seconds, then reconverts it to decimal and the closest  five decimal place equivalent to 48 seconds is 0.01333.

 

0.02833 works out to 101.988 second, and when converted to 102 seconds and then back to decimal, 0.02833 is also the result.

 

Are you sure these are the right numbers?  48 seconds per hour worked is only 27 hours and 44 minutes for a year of work full time  (52 weeks * 40 hours).

1 reply

A
Anonymous
Answer
December 16, 2018

QB stores time in seconds, but allows you to display it in decimal form.  So, when you enter a decimal number it converts it to seconds, which rounds it, then it displays it as a decimal based on those seconds.

 

In your case, you're entering 0.01346, which is 48.456 seconds.  So, QB rounds this to 48 seconds, then reconverts it to decimal and the closest  five decimal place equivalent to 48 seconds is 0.01333.

 

0.02833 works out to 101.988 second, and when converted to 102 seconds and then back to decimal, 0.02833 is also the result.

 

Are you sure these are the right numbers?  48 seconds per hour worked is only 27 hours and 44 minutes for a year of work full time  (52 weeks * 40 hours).

    J
    jmcclenin
    June 12, 2024

    Just looking for a little clarification, very sorry if this is a dumb question. So, if the Accrual rate per hour is 0.02198 but the system keeps changing it to 0.02194, is that accruing the correct amount of 0.02198?

    K
    krklndsvcAuthor
    June 12, 2024

    Due to the rounding the calculation will be slightly off for the year I have found

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