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Company Bookkeeping A company employs and pays 4 types of employees ( each with its own job code ) : Hourly. Each hourly employee has
Company Bookkeeping
A company employs and pays types of employees each with its own job code:
Hourly. Each hourly employee has an hourly wage and is paid weekly. If an employee works hours or less in a
week, then the employee's pay is the product of the number of hours worked and the hourly wage. If an employee
works more than hours in a week, then the employee is paid the hourly wage for the first hours of work and
times the hourly rate for the hours worked in excess of The code for this job type is HRLY
Salaried. A salaried employee is paid the same amount each week. The code for this job type is SLRY
Commission. The pay for employees that work on commission is a percentage of their weekly sales. The code for
this job type is "COMM".
Limited Commission. A limited commission employee is paid similarly to a commission employee except that a
limited commission employee is guaranteed a minimum amount, his or her base pay, but commission pay is
limited to no more than twice the base pay. The code for this job is type "LCOM".
The above pay descriptions do not include bonuses. Employees may also earn bonuses that are in addition to the pay the
earn as described above. Each week, any bonus that an employee has earned is added to the pay that is calculated by job
type.
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