I need to develop a formula which will determine an employee's earnings for the fiscal year, November 1 - October 31, based on a prorated salary, in order to determine a bonus amount.
Example: Joe's salary is $50,000/yr and he started June 7, 2008. He would be entitled to a bonus based on prorated earnings for June to October 31(because he worked more than half of June)
However, Carol's salary is also $50,000/yr but she started after June 16. She would be entitled to a bonus based on prorated earnings for July to October 31 (because she worked less than half of June).
What formula would I use? How should the dates appear in the 'Start Date' Column?
We also have employees who started in previous fiscal years, how do I exclude them from the prorated calculation.
Thank you for your time.
Brandy
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