In Visma Severa, you are able to manage how to overtimes are affecting entered work hours or work hour pricing. If the advanced time tracking add-on is in use, overtimes can affect work hour balance.
Overtime rates are multipliers for work completed outside of regular business hours. After overtime rates are created through settings, user basis settings can be managed user work contract.
Overtime multiplier affects work hour pricing and the work hour balance differently. For this reason, it's worthwhile to consider the most relevant aspect of overtime, either pricing or the work hour balance, and use it mainly for one or the other.
- Pricing: Overtime affects pricing as a straight multiplication operation. With an overtime rate of 150%, two hours' worth of work normally priced at $100/hour is charged as $300. The operation is $200 * 1.5 = $300.
- Work hours: Overtime affects the work hour balance as a multiplication added to the balance. With an overtime rate of 50%, two hours' worth of work becomes 3 hours. The operation is 2 * 1,5 = 3.
To set overtime rates:
- Go to Tools - Settings - Overtime rates
- Enter a name
- Give code if needed
- Enter the percentage multiplier for the rate
- If desired, click to mark the check box for affects work hour balance
- And, click add to save the entry