Merit Calculation Formula

The merit calculation formula uses a conditional IIF statement to determine if the CurrentPeriod is greater than or equal to merit increase period. If that value is true, the monthly salary will be multiplied by the merit rate.

Merit formula selectable criteria

There are two different options for creating this formula:

  • Option 1: Select each formula block.

  • Option 2: Type the formula in the text field of the Text tab.

Option 1

Follow these instructions to create this formula by selecting each block:

  1. Populate the formula criteria:

    • Formula Name: Merit Calc

    • (Optional) Formula Description

    • Register Group: All Employees

    • Value Type: Periodic

    • Account: 50250 - Merit

    • Scenario Type: All Scenarios

    • Periods: All periods selected

  2. Click the Functions tab and select the IIF block.

  3. Click the Functions tab and select the CurrentPeriod block.

  4. Click the >= operator block.

  5. Click the Globals tab, select Merit Inc Per from the drop-down menu and click the Add To Formula button.

  6. Click the , operator block.

  7. Click the Accounts tab, select 50200 from the Account Name drop-down menu, select the Monthly Salary formula and click the Add Block button.

  8. Click the * operator block.

  9. Click the Globals tab, select Merit Rate Ex from the drop-down menu and click the Add To Formula button.

  10. Click the , operator block.

  11. Click the Text tab, type 0 in the text field and click the Add To Formula button.

  12. Click the Save button. You will receive a confirmation message with the option to create another formula or return to the formula library.

Option 2

Follow these instructions to create this formula by typing the formula in the Text tab:

  1. Populate the formula criteria:

    • Formula Name: Merit Calc

    • (Optional) Formula Description

    • Register Group: All Employees

    • Value Type: Periodic

    • Account: 50250 - Merit

    • Scenario Type: All Scenarios

    • Periods: All periods selected

  2. Click the Text tab, type IIF(CurrentPeriod>=Merit Incr Per,A#50200*Merit Rate Ex,0) in the text field and click the Add To Formula button.

  3. Click the Save button. You will receive a confirmation message with the option to create another formula or return to the formula library.