Calculating Monthly Income from one of several different fields

[vxCClerk]

Hello, I am trying to create a monthly income calculator. We need monthly income in order to determine if an applicant is eligible for a particular benefit or service, however, sometimes applicants are unaware of how much money they make on a monthly basis but they do know how much they make weekly or biweekly or semi monthly or yearly. I want to calculate the MONTHLY field based on what is entered on at least one of these fields. Can someone please help? 

[try67]

I would use the Validation event of those fields for that.

For example, as the custom Validation event of Annual Income you can enter something like this:

if (event.value) this.getField("Monthly").value = Number(event.value) / 12;

Using the same logic, multiply by 4 to get the result from the Weekly field and multiply by 2 for Bi-Weekly.

I'm not sure what you mean by "semi-monthly", but I think you can get the gist of how it works... Plus, it will allow the user to enter a value into the Monthly field directly, if they wanted to do so.

[vxCClerk]

Thank you so much!!

Respectfully, people who are paid bi-weekly are paid 26 times a year. 

People who are paid semi-monthly are paid 24 times a year, so the calculation is a little different for each. 

I highly appreciate your help. 

[try67]

OK, then adjust the formula to however you want it to work. It was merely an example.

[jennie_1533]

Hi,
One practical way to calculate monthly income when you only know the weekly, bi-weekly, or annual numbers is to use a conversion approach:

• Weekly → Monthly: multiply by 4.33

• Bi-weekly → Monthly: multiply by 2.165

• Semi-monthly → Monthly: just add the two payments (since semi-monthly means twice a month)

• Yearly → Monthly: divide by 12

This method is what many HR and payroll systems also use when evaluating benefits eligibility. If you’d like to see a working version, I recently came across an online tool that does this automatically in Italian (but the math is universal) calcolo-stipendionetto  it converts income from weekly/annual/etc. into monthly net salary.

Hope that helps!

[Sophie_Lily7867]

Voit ratkaista tämän ongelman helposti laskurin avulla, joka muuntaa viikoittaiset, kahden viikon välein maksettavat tai vuotuiset tulot kuukausitasolle. Samaa logiikkaa hyödyntää myös Palkkalaskuri, jonka avulla on kätevää laskea ja hahmottaa omaa palkkaa eri maksujaksoilla.