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This guide will assist you in setting up a formula that will set the overtime rate to round to the nearest 2 decimal point.

To set the overtime rate rounding, go to Tools > General Maintenance > Overtime.

Users may select the overtime that you wish to edit and click onto the pencil icon to edit.

After that, users may select By Formula and input the formula as below and save. You need to add the ROUND ((XXXX),2) in each OT rate.

    Example 1.0x daily rate

    ROUND ((BASIC RATE/26/8) , 2 )

Next, go to Payroll > Employee Maintenance > Employment Detail > Overtime and select the overtime that you created just now.

Lastly, users may go to Payroll > Payroll Management > Process Payroll > Overtime and now the rate will be showing in two decimal points.