Accruals is the amount of vacation time that an employee has earned as per a company’s employee benefits policy, but which has not yet been used or paid.
Accruals may vary from person to person in an organization. Accrual policy for a senior person may be different than a policy for a fresher or the policy may be different for a full-time employee than a part-time employee.
Category
Figure: Various Time Off Categories
The administrator can add various categories of time off’s for an organization. Each category can have different accrual policies.
New Accrual Policy
Figure: New Accrual Policy
The administrator can set various kinds of accrual policies. The different options that can be set in a policy are:
- Name and description of the policy.
- The period of accruals – weekly, monthly or yearly.
- The number of hours to be accrued for a person and whether they should be prorated.
- The calculation period – at the beginning of the year or at the end of the year.
- A maximum accrual limit can be set and also a limit for carryover can be fixed, or both can be set to a No Limit option.
Accrual Policies
Figure: Various Accrual Policies
These policies can be edited if the company policy changes with time or can be deleted if not required.
User Accruals
Figure: Set User Accruals
Once the general accrual policy is set, the administrator can add employees to the policy. Each employee may have one or more accrual policies in various categories.
Accrual History
Figure: View Accrual History
The administrator can view the history of all the categories of time off’s along with the accruals at a glance for all employees.
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