Wednesday, July 01, 2020 starts a new Fiscal Year – the number of working days in Fiscal Year 2021 (7/01/20-6/30/21) is 261. 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 26.1.
NAANNL Rate = $55,000/26.1 = 2,107.28 – Bi-Weekly Rate
NAANNL Rate = $55,000/261 = 210.72 – Daily Rate