Best Practices for Retroactive Payroll Calculations
Retroactive calculations are often required in time and attendance applications. Retroactive calculation refers to the process of recalculating prior period timesheets in order to correct errors or recalculate timesheets according to new or updated policies.
The subject of retroactive calculations is an important one because timesheets are often turned in with errors. In other situations, a policy change is made effective retroactively, thus requiring whole groups of timesheets to be recalculated.