Incorrect Salary Calculation using Standard Rate Daily
We have a salary element where the Periodicity Conversion Rule & the Proration Conversion Rule are set as Standard Rate Daily. The monthly salary calculated by the system is incorrect.
Ex- Annual Salary of the employee is 60000
Monthly Salary = 60000/12 = 5000
Daily Rate = 60000/260 = 230.77 ( Using Standard Rate Daily Formula)
On Running the payroll for the employee in the month of June (30 Calendar days, 22 Working days), the salary is calculated as 4931.51
Similarly the Salary for the month of July ( 31 Calendar days, 21 Working Days), the salary is calculated as 5095.89
The Monthly Salary shouldn't be varying each month.
PS: We are using Standard Rate Daily as in case of proration our daily rate needs to be calculated by dividing annual salary by 260