Creating an Accrual Policy for your employees allows you to accurately track and adjust available accrual hours of all active employees. To set up an Accrual Policy, please follow these steps:
- Click Policies under Organisation in the main menu.
- Click the Accrual tab and click Add or edit an existing policy.
- Enter the Policy Name and ensure its status is Active.
- Provide an Accrual Name and an Accrued Pay Code that best matches the accrual name.
- Select the Accrual Rate, along with Accrual Rate Frequency and Hours Worked
- Decide whether an Accrual Cap should be Enabled or Disabled.
- Decide if the accrual policy will Reset or Rollover along with the date for either option.
- In the Included Pay Codes field, add the Paycodes which will be considered in the Accrual calculation.
- Select Add New Accrual Rule if the an additional Accrual Rule needs to be added.
- Hit Save if you have completed all required information.