Overview
When setting up Benefit Accrual, it is imperative that you know your firm's Accrual Policy.
Things to determine prior to the setup include:
| • | Does your firm differentiate between Vacation and Sick time or do you lump it all under one Benefit Project (Annual Leave, PTO, etc.)? |
| • | When does your Accrual year start? |
| o | If January 1st, you will use the Calendar > Calendar type of benefit accrual. |
| o | If it is different for each employee based on their Hire/Accrual Date then you will use the Calendar > Anniversary type of Benefit Accrual. |
| • | Do new employees begin accruing immediately or have to wait for a period of time (30 days, 90 days, etc.) before they are eligible? |
| o | If they begin accruing immediately you will use the Hire Date that is in their Employee record (this is the standard default). |
| o | If you make employees wait to begin accruing time off you will need to make sure that there is an Accrue Date of when they are eligible to begin accruing time in their Employee record in order for the system to be able to calculate the Benefit Accrual. The “Use Accrue Date” box will need to be checked in the Accrual set-up. |
| • | Know your standard Accrual levels (there may be exceptions, but you can deal with that after initial setup) |
| o | Is Accrual based on length of time with the company? For example, during the first year of employment 80 hours of Vacation time is accrued but in Year 2 employees are eligible to accrue 88 hours. |
| o | What are those tiers and Accruals? |
| • | Does your firm allow carryover of unused hours? |
| o | Is it the same for all employees or based on how many years they’ve been with the company? |
Once you have determined the above you can move forward with setup of Benefit Accrual.
|