When a COLA has been approved a Beacon HR system admin can enter the expected COLA information in the admin module.
To enter a COLA navigate to the admin module using the Admin Tab and then click system configuration.
Near the bottom of the page you will see a history of all previously entered COLA's with the option to enter a new COLA. Click Add + to begin entering the data for a new COLA
After clicking "Add +" a pop-up modal will appear for you to enter the FY and Pay Plan the COLA is counted for. In the amount field, enter the percentage in a decimal format. For example, if the COLA for GS employees in 2022 is 2.2% enter .022 in the amount field. The effective date is the pay period that the COLA will take effect. Use the drop-down to select the correct pay period. After the pay period passes Beacon will no longer use the manually entered COLA data to calculate. Therefore, you do not need to worry about deleting the COLA.
Note: the system recalculates for COLA's every 15 minutes. Therefore, please wait before running a new payroll report.
The COLA calculation will be attributed to every employee with the pay plan affected. You can review an individual person's new projected cost from an employee's FTE and Cost details page. Click on the Projected Salary value to see additional detail.
