I think it is a bug -- When I try to budget a certain amount for bi-weekly. The calculation doesn't come out right.
Here's what happened on budget -- I want to set up $75 for automobile gas for every two weeks.
I am unable to use bi-weekly for anything else since I receive my paycheck on bi-weekly basis.
Thanks for solid product!
Stefano
2014-02-05
The calculation is correct.
Reason:
Bi-Weekly period = 14 days
Average month = 30 days = 2 fortnights + 2 days
Calculation is based on a one year period: 365 days.
$75 / 14 ...... gives us $ per day.
* 365 ........... to give us one year
= $1,955.36 per year
/ 12 ............. for a single month
= $162.95 per month
Your calculation of $75 per fortnight giving $150 per month would produce:
$150 * 12 = $1,800 which is about $155 short.
unimike958
2014-02-05
Thanks for the formula, the calculation makes sense now.
Nikolay
2014-02-05
Anonymous