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Most predetermined motion time systems (MTM and MOST) use time measurement units (TMU) instead of seconds for measuring time. One TMU is defined to be 0.00001 hours, or 0.036 seconds according to MTM100 and 0.0000083 hours, or 0.030 seconds according to BS100. [1] These smaller units allow for more accurate calculations without the use of decimals.
For example, a full week of 40 hours has an FTE value of 1.0, so a person working 20 hours would have an FTE value of 0.5. Certain industries may adopt 35 hours, depending on the company, its location and the nature of work. Whole-time equivalent (WTE) is the same as FTE and applies also to students in education. [7]
Weekly — 31.8% — Fifty-two 40-hour pay periods per year and include one 40 hour work week for overtime calculations. Biweekly — 45.7% — Twenty-six 80-hour pay periods per year, consisting of two 40 hour work weeks for overtime calculations. Semi-monthly — 18.0% — Twenty-four pay periods per year with two pay dates per month.
When the time card hit a contact at the rear of the slot, the machine would print day and time information (a timestamp) on the card. One or more time cards could serve as a timesheet or provide the data to fill one. This allowed a timekeeper to have an official record of the hours an employee worked to calculate the pay owed an employee.
The payroll module automates the pay process by gathering data on employee time and attendance, calculating various deductions and taxes, and generating periodic pay cheques and employee tax reports. Data is generally fed from human resources and timekeeping modules to calculate automatic deposit and manual cheque writing capabilities.
Conversion of units is the conversion of the unit of measurement in which a quantity is expressed, typically through a multiplicative conversion factor that changes the unit without changing the quantity. This is also often loosely taken to include replacement of a quantity with a corresponding quantity that describes the same physical property.
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