If the organization has employees, then the calculation of vacation pay is an important component of accounting duties. The Ministry of Labor not so long ago made further changes to the rules for calculating average earnings, based on which vacation pay is considered. In the article, we will consider how to correctly calculate vacation pay in 2018.
The formula for calculating average earnings
In order to calculate vacation pay for an employee, you must use the following formula:
Amount of vacation pay \u003d Average daily earnings × Number of vacation days ,
Average daily earnings = Amount of payments taken into account when calculating average earnings ÷ 29.3
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This calculation is applied if the employee has worked in full for the billing period. That is, he did not go on vacation, was not on sick leave, did not go on a business trip, was present at work all working days during the billing period.
The settlement period of each individual employee lies within the 12 months preceding the month in which he goes on vacation. It can be less than 12 months for various reasons, but it cannot be more than 12 months. Also, the legislation allows you to set your own settlement period of 3 or 6 months, but this option must be recorded in writing in the accounting policy of the organization.
There are three situations when determining the settlement period:
The settlement period has been worked out completely;
The billing period has not been fully worked out;
The employee did not work for 12 months, wages were not accrued to him.
In the first case, the calculation will be very simple, according to the formula.
If the employee was ill, was on vacation or on a business trip, all cases of the employee's absence from the workplace with the preservation of his place of work are excluded from the billing period. The billing period includes only those days when the employee was actually present and received wages. Such a billing period is considered incomplete.
The third situation is usually typical for employees who are on parental leave. In that case, the last 12 months are taken for which the employee received wages.
The calendar month starts on the 1st and ends on the 30th or 31st, except for the month of February. In February, the beginning is on the 1st day, and the end of the month is on the 28th (29th) day. With a fully worked month, a coefficient of 29.3 is taken - this is the average number of days in a month for a year.
When the month is not fully worked out, then this coefficient is subject to recalculation.