There are two annual salary fields on the Pay Details page of the Employee Masterfile (Payroll, Masterfiles, Employee Details, Maintain or Enquire).
Annual Salary (Calendar Year): is a calculated field based on the Normal Rate entered and Pay Frequency selected. The calculation is for the calendar year based on 52.142857 weeks. This takes into account leap years and the fact that every year does not have exactly 52 weeks or 26 fortnights.
Annual Salary (52 Weeks): is a display field only that is based on 52 weeks only.
Sometimes there is a concern that employees have been under paid due to the calculation method used for annual salary. But in fact, when averaged over 4 years (to include the leap year) then the calculation is correct. To make up for any perceived underpayment a check on the Year-to-Date figures can be made prior to the last pay for the year. Some employers may increase the last pay for the year accordingly for employees.