Salary Estimation Calculator
Salary Estimation Calculator is used to compute the value of time spent on a task and equate it to a monetary value (hourly, daily, monthly and annually). Salary estimation calculator is the solution to the challenges faced by average-earnings businesses in terms of salary and wage remuneration.
This documentation is going to address the following areas:
- Introduction
- Background information
- Description of the calculator
- Purpose of the calculator
- User needs
- Using the calculator
- Solved examples
- Conclusion
- References
1. Introduction
Using calculators for business problems involves defining your business's issues and problems in quantifiable terms, and calculating numerical solutions. The numbers that describe your business activities tell a story about its relative financial health, giving information about the adequacy of your income or the sustainability of your level of expenses. They can also offer clues to your level of efficiency, and tell you whether you are spending too much money on a certain type of business expense.
2. Background Information
Salary estimation calculator is able to compute average sales or revenue for each hour, day and month of the year. This will help your business track its progress financially and keep the accuracy on salary administration.
Using a calculator can be extremely helpful but only if you know its particular conventions. While there are different types out there many of the features are the same.
3. Description of the calculator
In this section we will describe how salary estimation calculator is functioning. This calculator will integrated with the client management system named as AMGS that is already functioning within the organization. Employee salary management system is a web based calculator so at the front end, users of the calculator can access different graphical forms which can only be filled. The data is given as the input to the forms and after passing through certain query, it will check and processes the data.This system calculates the monthly or hourly salaries of its employees on the basis of certain parameters. It is also capable of calculating the salary and social security payable by the organization for a whole year.
The calculator uses a equation to calculate wages per hour, month and year. This equation will calculate a gross annual salary based on the provided hourly wage. This is based on an assumption of 52 work weeks at 40 hours per work week.
4. Purpose of the calculator
The calculator should be able to generate the following salary information:
- Salary calculation for every employee for per hour, month and per annum.
- Total salary calculation for each month for the whole company.
- Total salary calculation for a year for the whole company.
5. User needs
This calculator is developed for to cater for the needs of all business that require an automated tool for calculating the hourly wages of their employees into salaries either monthly or annually.
6. Using the calculator
In this section we will explain the overall working of the calculator and functions. Each function will be discussed and explained individually as following: After Logging in to the system a welcome screen appears where the user can view all the functions that he can be performed under the heading Contents, such as, logout, salary calculator and salary report.
Figure below is showing a view of salary estimation calculator. It is accessible through the salary calculator from the contents. The user will fill in necessary information i.e, working hours, allowances, deductions, percentage of the tax and some comments. This will be the input to the system and the output is provided by the system as soon as the user will click on the calculate button at the bottom.
The following algorithm is used:
def Wage = #Wage
def wrk_hrs_in_yr = getConstant("b9a181ea-0dc5-11e3-8615-bc764e049c3d") //work hours per year
def annual_salary = Wage * wrk_hrs_in_yr
return annual_salary
6.1 Login
As the user enters in to the vcalc website the login screen appears, figure shown below. The user logs in using his/her registered email and password. The user can also view the functions that he can perform under the heading contents.
7. Solved examples
The calculator uses an algorithm to do its computations. The algorithm is shown below:
The following algorithm is used:
def Wage = #Wage
def wrk_hrs_in_yr = getConstant("b9a181ea-0dc5-11e3-8615-bc764e049c3d") //work hours per year
def annual_salary = Wage * wrk_hrs_in_yr
return annual_salary
For instance if an employee works at a wage of USD 10 per hour, his annual salary is calculated as follows:
Annual salary=Hourly Wage⋅( number of hours worked per year)
Annual salary=10⋅( number of hours worked per year) : The calculator is based on an assumption of 52 work weeks at 40 hours per work week.
Annual salary=10⋅( number of hours worked per year)
Annual salary=20800.0
8. Future Enhancements
8.1 Budget Program
This salary estimation calculator can be further enhanced by a budget program in future. In budget program every team leader will have support to manage and utilize specific amount of money in a better way. With this amount he will manage everything like stadium rent, office expenditures and employees salaries.
8.2 Visual Representation of Data
Graphs and charts can be added into future version of salary estimation calculator. Through these charts or graphs management can see the change in the salary of an employee or over all increment in salaries of employees. Management can also analyze the tax paid by company in different time periods.
8. Conclusion
As you can see the Salary Estimation calculator is a valuable tool. You are totally knowledgeable about how your particular calculator works. I hope this was helpful.
9. References
1. Tsui, Frank F. Essentials of software engineering, second edition , Jones and Bartlett Publishers. ”Last visiting date 14th November 2021”
2. https://se.php.net/manual/en/intro-whatcando.php ”Last visiting date 14th November 2021”
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