The Time Analysis report includes standard hours or amounts in the Standard column if you select Display standard hours column on the General tab.
How Vantagepoint calculates and displays standard hours or amounts for an employee depends on the Use total hours as standard on Time Analysis option on the Accounting tab of the Employees hub.
Calculation of Standard Hours or Amounts
If Use total hours as standard on Time Analysis is selected, Vantagepoint uses the total hours worked to calculate standard hours or the cost of those hours.
If Use total hours as standard on Time Analysis is not selected, Vantagepoint calculates the standard hours or the cost of those hours as follows:
- Current: Standard hours are calculated for the current accounting period based on the employee's job cost frequency
- Weekly: Hours per day x 5
- Biweekly: Hours per day x 10
- Semi-monthly: Hours per day x 260 [52 weeks x 5 days per week] divided by 24 [two periods per month]
- Monthly: Hours per day x 260 [52 weeks x 5 days per week] divided by 12 [one period per month]
- Month-to-date: Standard hours are calculated for the month to date as follows: Hours per day x Number of workdays between the first day of the month or the hire date and the date specified in Calculate STD Hrs as of on the General tab. Vantagepoint increases the number of workdays to the nearest week. For example, if the employee has completed 22 workdays for the current month, Vantagepoint increases that to 25 to calculate standard hours for five complete weeks.
- Year-to-date: Standard hours are calculated for the year to date as follows: Hours per day x Number of workdays between the fiscal year start date or the employee's hire date and the date specified in Calculate STD Hrs as of on the General tab. Vantagepoint increases the number of workdays to the nearest week. For example, if the employee has completed 22 workdays for the current year, Vantagepoint increases that to 25 to calculate standard hours for five complete weeks.
Termination Dates and Standard Hours
If the employee has a termination date specified in the employee record in the Employees hub, standard hours stop on that date. If an employee is terminated and later rehired, you must remove the date from the Termination Date field in the employee record. If you do not remove the termination date, the Time Analysis report will display incorrect standard hours for that employee.
