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What is Average Monthly Wage

Regarded Months = Regards Days (past 12 months) / 365 (or 366) x 12 (round to 2 decimal place)

Average Monthly Wage = Regards Wage (past 12 months) / Regarded Months


For Hourly Rate employees,
    Regarded Days is the Regarded Days entered in Payroll Amendment, Salary tab.
    Regarded Wage is the sum of the Pay Amount of the Pay Types (defined in Payroll Module Setup, PayType tab or Pay Type Table) that Full Pay Wage check box is turned on.

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