I have an employee whose current gross pay is $ 115,000 USD/yr. I need to increase his gross pay on a regular basis so that over the course of 18 months he reaches a gross pay of $ 150,000 USD/yr. Payroll is bi-weekly. How do I achieve this?
If I increase his gross payroll by $ 1,950 USD/mo (which is (150,000-115,000)/18 mo), his gross pay increases by approximately $75 USD/pay period and the sum of the total paid out over 18 months is much greater than 150,000
If I understand you clearly, you wish to increase his gross, over 18 months, or 36 BI-WEEKLY periods.
If so, each pay period should be increased by