Future Dated Transactions

Future Dating involves recording an event that relates to a future period of time and having that event automatically come into effect on a given date.

Future Dating may be applied to the following areas:-

  • Salary Package Changes
  • Salary Step Processing
  • Salary Code
  • Change Position
  • Change Pay Rate
  • Batch Processing - Pay Rate Increase by Award Code

To activate the Future Dated Process, Program Control Option EFFDT must be setup.

 

In all windows where an employee is selected, a Future Dated icon is included on the Tool Bar.

The icon is greyed out if there are no future dated transactions for this employee and activated if there are transactions.

Future dated transactions that are waiting to be processed can be viewed and maintained in the Future Dated Inquiry window. Future dated transactions for Salary Packages that are waiting to be processed can be viewed and deleted in the Future Dated Salary Package  window.

  • Components of a Future Dated Package cannot be deleted. If one component is selected for deletion, the whole package will be deleted.

 

If there are future dated transaction for the employee in time entry, the icon previously described will be displayed.

  • Future dated transactions are based on the date processed, not the Pay Period End date.
  • A change to the pay rate is applied to the employee's Masterfile record so the employee will be paid at the new rate for the entire pay period.

Example

  • The monthly Pay Period End date is 31st March.
  • The employee is paid monthly and has a future dated pay increase effective form 10th March.
  • The pay is processed on the 15th March.
  • The result is that the employee would be paid at the new rate for the whole month of March.

 

When the Process Position Changes and Process Pay Changes options are run, any future dated transactions held in the system with Effective Dates which are equal to or prior to the processing date will be actioned.

  • In a similar manner to the standard processing process only those transactions entered by the user are actioned.
  • These processes should not be run while a payrun is in progress.

 

Future dated transactions with Effective Dates are processed by using the Process Effective Date Transactions window

 

If manually processed Effective Date changes is not required an automatic process can be used to schedule the processing of future dated transactions. This may be done using Report Manager. A special process EFF DATE PROCESS has been setup to allow for this.

 

Future dated transactions are available for reporting through Extractor.

When the Time Card Edit process is run all the future dated transactions that will become effective in the current payrun are reported.

When the Close Payrun process is run all future dated transaction that will become effective in the next payrun are reported.

 

All future dated transactions are stored indefinitely. The Purge Future Dated Transaction option is used to remove transactions from the system.

Options allow:-

  • The selection of Complete, Deleted or Pending transactions
  • Report only or Report and Purge.

 

The Purging of future dated transactions with Effective Dates can be processed by using the Purge Effective Date Transactions window