Setting up Accrual

General support regarding TimeTrex, such as
configuring policies/taxes or processing payroll.
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kobonl
Posts: 13
Joined: Fri Jul 22, 2016 5:09 am

Setting up Accrual

Post by kobonl » Tue Dec 06, 2016 1:55 am

I have been reading the manual but I don't completely understand how to setup accrual policies and the processes behind. Is there a document (or topic on the forum) available showing some with specific examples, the setup and explanation how this is suppose to work?

shaunw
Posts: 7360
Joined: Tue Sep 19, 2006 2:22 pm

Re: Setting up Accrual

Post by shaunw » Tue Dec 06, 2016 9:04 am

The Administrator Guide describes the Accrual policies in detail, if you are still having problems please ask a specific question here and we will be happy to try and assist you.

kobonl
Posts: 13
Joined: Fri Jul 22, 2016 5:09 am

Re: Setting up Accrual

Post by kobonl » Wed Dec 07, 2016 1:34 am

Ok let's start with a holiday and overtime balance:

I want to keep track on the consumed holidays of an employee during the year. Every year on 1 January an employee receives a new balance (the amount is depending on hire date). Holidays that are not consumed last year are added to the balance of the new year.
I added an accrual policy Vacation (see details in attachment, but I am not sure this will work).

Overtime balance: Should keep track on the overtime hours an employee during the year. The employee can decide to have time-for-time or to have the overtime paid.
On 1 January the overtime hours from last year that are not compensated are added to the balance of the new year.
How should I create a policy for this rule?

Thanks!
Attachments
TimeTrex Accrual Vacation Policy.png
TimeTrex Accrual Vacation Policy.png (31.21 KiB) Viewed 1132 times
TimeTrex Accrual Vacation Policy milestones.png
TimeTrex Accrual Vacation Policy milestones.png (13.44 KiB) Viewed 1132 times

shaunw
Posts: 7360
Joined: Tue Sep 19, 2006 2:22 pm

Re: Setting up Accrual

Post by shaunw » Wed Dec 07, 2016 8:53 am

Change the Maximum Balance setting to 9999:00 as well, that will allow you to carry over balances from one year to the next. If Maximum Balance is set to 0, then the accrual is essentially disabled.

kobonl
Posts: 13
Joined: Fri Jul 22, 2016 5:09 am

Re: Setting up Accrual

Post by kobonl » Wed Dec 07, 2016 9:32 am

Thanks, your tip works!

But now the 2nd question: How to setup a overtime accrual policy?
I expected that I could make a accrual policy with an Accrual Account related to 'Overtime'. But this option is not there.

How can I accrual overtime and let the employee decide to have time-for-time or to have the overtime paid?

shaunw
Posts: 7360
Joined: Tue Sep 19, 2006 2:22 pm

Re: Setting up Accrual

Post by shaunw » Wed Dec 07, 2016 10:36 am

The overtime policy can be linked to a Pay Formula policy, which itself can then be linked to an Accrual Account. That way any overtime can get deposited into a time bank rather than paid out.

See the Administrator Guide for more information:
https://help.timetrex.com/v10.0/enterpr ... s%7C_____4

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