Three commonly used accrual rules, configured start to finish.
These examples walk through three accrual rules that most companies can adapt to their own policy.
This rule gives employees 32.00 hours of Sick time at the start of each year on January 1st. Time cannot be carried over from year to year, and the maximum balance is capped at 32.00.
First, create the rule and configure the basic settings. In this example we chose to prevent negatives and assign the rule by default to the Sick pay code.
Next, edit the rule.
Now configure the Hours to Earn, Maximum Accrual, Carryover Amount, and Maximum Balance.
This rule gives employees 1 hour of Sick time for every 40 hours worked. It starts on their hire date, up to 40 hours can be carried over from year to year, and the maximum balance is capped at 40.00.
First, create the rule and configure the basic settings. Again we chose to prevent negatives and assign the rule by default to the Sick pay code.
Next, edit the rule.
Now configure the Hours to Earn, Maximum Accrual, Carryover Amount, and Maximum Balance.
This rule gives employees 40, 80, or 120 hours of Vacation time on their anniversary, based on length of service. Hours cannot be carried over from year to year.
First, create the rule and configure the basic settings. In this example we chose to prevent negatives and assign the rule by default to the Vacation/PTO pay code.
Next, edit the rule.
Now enable Accrual Levels to configure different earned hours based on length of service.
Edit the existing level and add new levels as needed.
Add the next level for the 1st year anniversary, or 12 months.
Add a level for the 2 year anniversary, or 24 months.
Finally, add the level for the 5th year anniversary, or 60 months.
Note: TimeTrakGO creates the ending months automatically based on the last level added. In the image below only 12, 24, and 60 months needed to be entered. Years 3 and 4 use the same amount as year 2.