The most common usage of affect is as a verb, meaning to impact. Effect is usually a noun, meaning the result or consequence of something. However, both affect and effect have alternate meanings when used as different parts of speech.
1 Select Employee Center. 2  Double-click on the employee's name. 3  Select the Payroll Info tab. 4  Under the Earnings box in the item name columns, click in a blank area. 5  From the drop-down arrow, select your Salary Item and then enter the employees annual salary.elect Custom Setup and click Next. Select Wage, and click Next. Select Annual Salary, and click Next. Select the type of pay. Vacation Pay and Sick Pay are each specific options. All other types of pay should be entered as Regular Pay. Click Next. Enter a name for the salary item that easily identifies it.
Add the product of the hourly rates for each job and the number of hours worked. For example, if an employee works 15 hours as an executive assistant at $20 an hour and the remaining 25 hours in a week as a bookkeeper at $22 an hour, the total weekly salary is $850 [($20 x 15) + ($22 x 25) = $300 + $550 = $850]. Divide the total weekly salary by the number of hours worked to calculate the weighted average hourly rate. Continuing with the example, the weighted average hourly rate is $21.25 ($850 / 40). Determine the overtime rate, which is usually 1.5 times the regular hourly rate. Note that the overtime rate is not based on the hourly rates of either of the two jobs. To conclude the example, if the employee works five extra hours as a bookkeeper, his overtime rate for those extra hours is about $31.88 ($21.25 x 1.5) and not $33 ($22 x 1.5).