The BF Payroll spreadsheet calculates contributor compensation during each payroll period, the amount of Beans to Deposit in the Silo after the approval of quarterly budget BIPs and on hiring new contributors, and keeps records of wallet addresses, contributor compensation and Silo Deposits.
Instructions by Tab:
Wallet Addresses - Stores Ethereum wallet addresses for contributors, grant recipients and contractors.
Payroll Contributors - Enter each contributor’s “Name”, “BFC POC”, “Start Date”, “Monthly Pay”, “End Date”, if they are no longer contributing to Beanstalk Farms, and “Snapshot Link”. “Deposit Address” is automatically populated.
Periods - Payroll is processed on the 15th and the last day of each month. Each payroll period has a “Period #”.
Payroll Calculator - In cell B1, enter the payroll period # you would like to calculate. In cell B5, enter the Earned Beans attributable to the Silo Deposit over the payroll period (see Silo Calculator). The spreadsheet will automatically account for contributors working partial payroll periods.
The payroll calculation splits each month into two payroll periods. The first period always ends on the 15th and the second period always ends on the last day of the month.
“Base Comp”, or compensation without consideration of growth due to Depositing in the Silo, is calculated as:
((the contributor’s days worked in the payroll period) / (the total days in the payroll period)) * (half of the contributor’s monthly compensation level, per their Snapshot).
If payroll is paid before a Deposit for that quarter is made in the Silo, the amount paid is “Base Comp”.
To account for the growth in amounts Deposited in the Silo, at the end of each payroll period, the increase in Earned Beans in the Silo Deposit over that payroll period is calculated. This increase is distributed pro rata based on compensation for that payroll period, if the amount meets the Plant policy. The amount paid after accounting for Silo growth is “Total Comp”.
See “Payment Record” for instructions on how to record the amounts payable from “Base Comp” and “Total Comp” for presentation to the BFM.
Silo Calculator - In row 6, enter the period #s for all the payroll periods in the quarter you would like to calculate. The spreadsheet will calculate the total amount to Deposit in the Silo for the quarter. If a contributor is working part of the quarter, “Check” will appear in column J. This is a reminder that an additional Deposit may need to be made to the Silo to account for that contributor. Add an explanation for each instance of “Check” in the “Notes” column.
“Silo Balance Exclude Earned” is the amount of Beans that should be left in the Silo at the end of each payroll period excluding any growth due to Earned Beans.
“Total by BFC POC” calculates the total payroll per period per BFC member. These statistics are used in the BF Finances spreadsheet.
Payment Record - A historical record of each payroll period. A screenshot of each payroll period from this sheet is shared with the BFM to process payments.
Each payroll period will require Transferring Silo Deposits from multiple Seasons.
- One Season will be the Season the quarter’s payroll was initially Deposited into the Silo.
- A second Season will be the Season the Earned Beans from that payroll period were Planted, if Plant was called per the Plant policy.
- Additional Seasons are possible where a contributor joined Beanstalk Farms after the initial Silo Deposit and their Base Comp Deposit was Deposited in a different Season from other contributors.
Whether a payment consists of Base Comp or Earned Beans and which Season is to be Transferred is indicated in the “Base or Earned” and “Season” rows.
Silo Deposit Record - A historical record of each Silo Deposit. Silo Deposits typically occur at the beginning of a quarter after the budget BIP has passed or when a contributor has been hired during a quarter.