Setting up Accrual
Setting up Accrual
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?
Re: Setting up Accrual
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.
Re: Setting up Accrual
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!
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
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- TimeTrex Accrual Vacation Policy.png (31.21 KiB) Viewed 5573 times
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- TimeTrex Accrual Vacation Policy milestones.png (13.44 KiB) Viewed 5573 times
Re: Setting up Accrual
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.
Re: Setting up Accrual
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?
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?
Re: Setting up Accrual
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
See the Administrator Guide for more information:
https://help.timetrex.com/v10.0/enterpr ... s%7C_____4