Settings 5-A, 5-B, and 5-C correspond to the three accruable time off categories that are set on the Hourly tab of the Company Settings page in setting number 3. All three time off categories have the same set of parameters for configuring accruals, although each can be set independently. To configure an accrual type, follow the setup instructions below.
Choosing an Accrual Rate
Timesheets.com offers several accrual rates to choose from, including:
- None: No automatic accrual
- Daily: 365 accrual periods per year
- First of the Month: 12 accrual periods per year
- Twice a Month (1st &15th): 24 accrual periods per year
- Every Week: 52 accrual periods per year
- Every Two Weeks: 26 accrual periods per year
- Once Yearly: 1 accrual period per year
- By Hours Worked: Accrues when closing payroll periods
Note: Time off banks will immediately reflect newly accrued hours with every accrual rate except the “By Hours Worked” accrual rate. Accruals by hours worked will not be finalized until the hours are closed into a payroll report and formally processed
Select the desired accrual rate and move to the next setting.
Select a Date Accruals Begin
Certain accrual rates including Weekly, Every Two Weeks, and Once Yearly allow you to select a date that accruals will begin. If you are prompted to select a start date for the accrual, select the date that represents the first day of the first period the user will accrue time, then move to the next setting.
Enter Currently Accrued Time
If the user already has a balance of accrued time off, you should enter the current balance here. Also, if you need to make manual adjustments to the user’s accrual balance in the future, you can adjust this value.
Enter The Amount of Time to Accrue Per Hour Worked
If the accrual rate is set to By Hours Worked, you’ll be prompted to enter the amount of time to accrue per hour. To calculate the amount of time to accrue for each hour, divide 1 by the total hours to accrue per hour worked. For example, if the user accrues 1 hour for every 30 hours worked, then the user accrues 1/30 = 0.03333 hours per hour worked. Enter the time to accrue per hour worked and move to the next setting.
Enter The Amount of Time to Accrue Per Year
Every accrual rate except for By Hours Worked uses the yearly accrual amount to calculate accruals for each accrual period. Enter the amount of hours the user should accrue per year and move to the next setting.
If the accrual rate is set to By Hours Worked, enter the maximum number of hours the user is allowed to accrue in any one year period. For no cap, set the value to a high number (e.g., 1000 hours or higher).
Enter The Cap for the Maximum Accrued Hours
Enter the maximum amount of accrued time this user is allowed to have in their time bank. If you allow a certain amount of a person’s accrual to roll over from year to year, add the rollover amount to the yearly accrual amount and enter the total into this field. For example, if the employee receives 40 hours of sick time for the year, and you allow them to roll over 20 hours, then enter the total (60) into this field. The user will only be allowed to accrue up to 60 hours. If they are allowed to roll over as much time as they want without restriction, then set this value to 0.