TimeControl's Accruals Module allows HR and Payroll departments to manage overtime, vacations, banked time, personal time off and other banks of employee time automatically in TimeControl with a powerful Accruals Rules Generator.
Calendar Accrual Based on Static Values
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.
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.
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.
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. Accrual rules can access any employee bank so you can use them to augment the vacation or personal time off bank or banked overtime or just an overtime calculation. With the different types of rules, some can be applied at the moment the timesheet is posted and others can be calculated at a given time on the calendar such as monthly.