This article explains the Payroll Bonus Report in Protiv, which summarizes payroll bonuses and overtime differences due to bonuses.
The Payroll Bonus Report gives you a snapshot of your company's bonus payouts for each payroll period. It's a simple, yet powerful tool for tracking how much you're spending on bonuses and any overtime adjustments.
Understanding the Report 🤓
Here's a breakdown of the information you'll find in the report:
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Worker Name: The name of the employee.
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Paid Period: The specific payroll period the bonus was paid.
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Bonus: The total bonus amount paid to the employee.
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OT Difference: If the bonus impacted overtime calculations, this shows the difference in overtime pay. Bonuses often trigger overtime adjustments as per the Fair Labor Standards Act (FLSA).
- Protiv automatically calculates this for you, but you can also turn it off in Settings if you prefer.
- For more details on how this is calculated, refer to the article "What is the OT Difference in Protiv? 🤔"
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Total: The total amount paid to the employee, including their regular pay, bonus, and any overtime difference.
Why This Report Matters 🤔
The Payroll Bonus Report helps you:
- Track Expenses: Keep tabs on your total bonus payouts and budget accordingly.
- Ensure Compliance: Understand and manage overtime adjustments due to bonuses, as required by the FLSA.
- Spot Issues: Identify any discrepancies or errors in bonus payouts.
Note: This information applies to companies based in the 🇺🇸 United States of America 🇺🇸. For information on how this applies in other countries, consult with an HR or legal professional familiar with your local labor laws.
🔧📚 TOOLS & RESOURCES:
- Article: What is the OT Difference in Protiv? 🤔
- U.S. Department of Labor: Fact Sheet #56C: Bonuses under the Fair Labor Standards Act (FLSA)