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John Mark
John Mark, Accountant
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I am paid a monthly rate but I only worked a portion of the

Resolved Question:

I am a contractor and I my agreement states that I am paid a monthly rate of $7500 with the expectation that I will work a 4 day work week (8 hours per day). This month, I only worked a portion of the month. I worked from July 8 - 31, and that included 4 days each of the first three weeks, and then 3 days the last week.


For what dollar amount should I invoice?


 


 


By the way, your site is a little misleading. I asked for "chat" and was told experts were online now.

Submitted: 1 year ago.
Category: Finance
Expert:  John Mark replied 1 year ago.

Dear Friend,

As per your agreement your daily rate is

7500 / 31

242

so for 24 days

24 X 242

=$ 5,808 Dollar invoice to be raised

But if you four days are fixed that is Monday tuesday or etc. than calculation may differ

Customer: replied 1 year ago.


Thanks. The 4 days are fixed - Half day Monday and half day Friday, full days Tues, Weds, Thurs. How does that change it? And why?

Expert:  John Mark replied 1 year ago.

Dear then you may calculate on actual basis,

that is month of july 2013 has 18.5 days of total available working days as per you agreement so

daily rate shall be

7500 / 18.5

= 405.5

and you have worked for 14.5 days

therefore

405.5 X 14.5

= 5,879 dollars to be raised

John Mark, Accountant
Category: Finance
Satisfied Customers: 588
Experience: ACCA
John Mark and 5 other Finance Specialists are ready to help you
Expert:  John Mark replied 1 year ago.

Please rate my answer so i can be remunerated for my advise, thanx

Expert:  Rakhi Vasavada replied 1 year ago.

Dear Friend, Hello and welcome.

 

I have some different calculation for you and therefore this answer. In my opinion, you are charging $7500 for 19 Days if this is a contractual work. Therefore your remuneration works out as 7500/19=$394.75 Per Day. Going by first 4 days of each week, for July, it works out 19 working days. You say you have worked for 15 days, I.e. 4+4+4+3=15 days.

 

You should invoice him for 394.75*15= $5921.75

 

I am sure this would help.....

 

 

You may please leave a positive rating if this helps as that is the only way we receive credit for assisting you. Alternatively feel absolutely free to revert with more queries if you have.

 

 

Warm Regards...

Expert:  John Mark replied 1 year ago.

Dear,

as per the agreement the days are fixed that is half day of Monday, full day for tuesday, wednesday, thursday and half day of friday so there is no need to go with the assumption of first 4 days of week when something is actually stipulated. so the appropriate invoicing amount shall be

405.5 X 14.5

= 5,879 dollars to be raised

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