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Calculating Monthly Comp of New Employees based on Start Date (prorating first month)

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    Calculating Monthly Comp of New Employees based on Start Date (prorating first month)

    Hi all - trying to calculate monthly comp for the year of new employees by prorating the first month based on date of hire. I want to be able to change the date of hire and have the formula calculate the appropriate comp for that month. Right now I have:

    D36 = start date
    E36 = end of starting month date
    X4 = previous month in formula end date
    Y4 = current month in formula end date
    H26 = salary

    =IF($D36>X$4,0,IF((AND($D36<Y$4,$D36<$E36)),(((EOMONTH($D36,0)-$D36)/DAY(EOMONTH($D36,0))*$H36)/12),$H36/12

    The problem I'm running into is that the if/and formula is always triggering the equation to take the fractional days. I need to figure a way to make it only do that for the first months, all subsequent months should be just comp divided by 12.

    Thoughts?

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    Forum Expert BadlySpelledBuoy's Avatar
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    Re: Calculating Monthly Comp of New Employees based on Start Date (prorating first month)

    Hi and welcome.

    I think you'll get a solution on this quicker if you can attach a sample workbook (not a picture of one) and show a handful of expected results.

    BSB

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    Forum Expert XLent's Avatar
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    Re: Calculating Monthly Comp of New Employees based on Start Date (prorating first month)

    pro-rating all months should be fine, if you use dates correctly -- based on your outlined ranges:

    Formula: copy to clipboard
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    the above, copied to the right, should generate the periodic values requested.

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