Monday, July 01, 2019 starts a new Fiscal Year – the number of working days in Fiscal Year 2020 (7/1/19-6/30/20) is 262. This adjustment in the number of Fiscal Days will be processed automatically in PeopleSoft for the university.
Calculation of the bi-weekly is derived by taking the annual rate (listed as NAANNL in HCM) and dividing by 26.2.
NAANNL Rate = $55,000/26.2 = 2099.24 – Bi-Weekly Rate
NAANNL Rate = $55,000/262 = 209.92 – Daily Rate