Category Archives: vacation accruals

vacation, vacation accruals

Do you know how much time is in the vacation bank?

It’s summTimeControl Detailed Vacation Bank Report, TimeControl, Enterprise Timesheet, Chris Vandersluis, Christopher Vandersluis, Christopher Peter Vandersluisertime and for many organizations, that means employees are taking advantage of the warm weather to take vacations.  For some, those vacations have been planned earlier in the year, for others, they are just making their plans.

TimeControl provides tools to track not just when employees took vacation but how much vacation time an employee has earned and how much they’ve taken throughout the year.

The Employee Bank is one of multiple banks of time within TimeControl that can be activated and monitored.  Time can be earned automatically within TimeControl using the Accruals module.  Alternately, if this is managed elsewhere, the banked time can be imported from outside sources such as the HR system.  Once earned, the banked time is visible to the employees in a report or a dashboard view.

When it’s time to take vacation, the employee selects a charge code for that in their timesheet either in advance or after their time off.  TimeControl then automatically deducts that time from the appropriate bank.

One of the most time-consuming parts of vacation banks for management are discussions with employees about how much time they’ve earned or taken but this too can be managed in TimeControl with the Detailed Employee Bank report.  For day-to-day operations, the report has a dynamic view which can be viewed and filtered instantly no matter how many employees there are.

Vacations are the most common but only one aspect of banked time off and scheduled time off.  TimeControl can also impose validation rules on TimeRequests for time off to ensure the rules are followed of time off requests vs. time in the bank.  Other banked time can also be tracked such as sick leave or personal time off.

You can find out more about how TimeControl manages time off requests and vacations at: www.timecontrol.com/features/vacation-approvals and more about accruals at: www.timecontrol.com/features/accruals.

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TimeControl 6.8 includes the Accruals Module

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Did you know that TimeControl 6.8 includes a powerful Accruals Module to allow Human Resources and Payroll departments to automatically calculate and store time in many different categories?  Many organizations have scenarios where the timesheet is an ideal place to calculate overtime based on the total number of hours or the amount of vacation or personal time off that has been earned each period based on a person’s seniority or managing banked overtime.  TimeControl’s new Accruals Module allows all of these types of calculations and more.
This extensive functionality is included with every TimeControl or TimeControl Online and has four different accrual rule categories:
1. Calendar Accrual Based on Static Valuesaccruals_4_300x189
In some organizations, your vacation time or personal time off is earned at a standard value.  For example, let’s say you get 3 weeks of vacation and a standard week is 40 hours long.  Each month you might earn 10 hours.  The calculation is 40 hours times 3 weeks for 120 total hours per year of vacation and divide that 120 by 12 months and we get 10 hours per month.  TimeControl can automatically do the storage of those hours into each employee’s vacation bank.
2. Calendar Accrual Based on Posted Time Values
Imagine that we need to calculate a set number of hours per employee each month based on the total number of hours accumulated during this period to their personal time off bank.  The calculation might be particularly well suited to people who are on part time or hourly pay as opposed to salaried staff.
3. Timesheet Accrual Based on Rate Codes
Some organizations may configure TimeControl to accrue time into a bank based on the value found in the rate code.  For example, it is quite common in TimeControl to identify a rate as an overtime rate with specific values for internal cost vs. external billing value.  The TimeControl Accruals module can look at these lines and determine if the overtime values should be treated as time to go into a particular employee’s bank such as banked overtime over a certain value.
4. Timesheet Accrual Based on Timesheet Hours
In some organizations, there are rules for the amount of overtime that can be accumulated based on the number of hours in a timesheet.  Let’s say, for example, we want to add to the employee’s overtime bank an amount calculated at 1.5 times the hours for any time spent over 40 total hours but below 50 total hours and 2 times the hours for any hours above 50.
A TimeControl instance may include numerous Accrual rules.   Some rules could apply to the entire staff and others might apply only to certain staff or even to certain staff under some conditions.
Find out more about TimeControl Accruals at www.timecontrol.com/timesheet/accruals.