The Accruals module calculates and validates your accrual pay types. A highly configurable accrual rules engine allows it to calculate accrued time earned with complete accuracy, for both calendar based and hire date based years. It also handles pay outs and banking for year end accrual pay types.
- Accruals can be earned using annual entitlements or date based entitlements
- Date based entitlements are typically used for accruing holidays and birthdays, but can be used for any pay type that is accrued based on the calendar year
- Accrual calculations are proportioned based on the employee’s work information and hours that the employee works within each accrual period. There is no need to have different rules for part time/full time or 35 hour/40 hour employees that earn the same number of days each year
- Accruals earned can be immediately released or can be held and released on a schedule
- Entitlement levels can be overridden at the employee level, for a certain period of seniority or for a date range