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# Need formula to calculate payroll benefit per hour, max 40?

## Need formula to calculate payroll benefit per hour, max 40?

(OP)
I am setting up payroll in Peachtree.  But I am having difficulty setting up a formula that will calculate a benefit paid by the employer that automatically calculates on the basis of hours worked.  The company pays regular hours and overtime.  It also pays a pension benefit of \$3.15 per hour not to exceed 40 hours.  Thus, I want the benefit to calculate on the ER side, and post to the general ledger (expense and accrual accounts).  But, I need the formula to enter in the Tax Tables, Company. Can anyone help me.  Would appreciate.

### RE: Need formula to calculate payroll benefit per hour, max 40?

For the Benefit, try this:
ANSWER=(regular + overtime)* 1.15 "where 1.15 is the benefit amount per hour worked"

For the pension benefit, try this:
LIMIT=40.00;
A=(regular+overtime); "where regular and overtime are your hourly payroll field names"
B=(A-LIMIT);
C=(A*3.15);
D=(A-B)*3.15;
E=IF(A)<=LIMIT,C,D);

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