Employee Benefit Accruals

Description

The Accruals Earnings Module can serve as the master for benefit time, or it can import on a pay period basis, updating available hours from the HR system. Use the Accruals Earnings Module to generate benefit time earned, as well as deduct time taken and maintain accurate editable records of all benefit time. Benefit time can be earned as a percentage of time worked or flat amounts. Both can vary by years of employment. Many parameterized options exist for each benefit Pay Code (e.g., as to when the earned benefit time becomes available to the employee).

Each benefit Pay Code can be set up to check and prevent a supervisor from exceeding available hours, check and allow a supervisor to exceed available hours only after overriding a warning, or not check at all.

In assessing available hours, the Accruals Earnings Module takes the current balance in the Benefit Accrual Table and subtracts hours of that type Pay Code from other areas in TimeTrak not yet reflected in the balance. This yields an accurate gauge of benefit hours available, avoiding, for example, the possibility of a supervisor giving vacation hours this week that are already designated, by employee request, for a week long vacation just two weeks from now.

In addition, The Accruals Earnings Module offers a Pay-Out option of available benefit hours for companies with such requirements.

Instant Access to Employee Benefit Hours

With Instant access to committed, taken and accrued hours the Accruals Earnings Module eliminates paper records allowing you to focus on other responsibilities.

Benefit Details

Having benefit accrual details accessible in the Time and Attendance application is vital for supervisors and managers to have instant access to the time off details.

Instant Accrual Checking

Each Benefit Pay Code can be set up to: (a) check and prevent a supervisor from exceeding available hours, (b) check and allow a supervisor to exceed available hours only after overriding a warning, or (c) not check the available accrual balance at all

Features Overview

Detailed Overview

Features Overview

Benefit Accrual Tracking
Up-to-the-Minute Accrual Balances
Instant access to committed, taken and accrued hours
Floating Holiday Tracking
Unpaid Time Tracking
Sync between 3rd party systems such as payroll

Detailed Overview

Benefit Accruals

HisTrak® can serve as the master for benefit time, or it can import on a pay period base, updating available hours from the HR system. Using the Accruals Earnings Module, HisTrak® can generate benefit time earned, as well as deduct time taken and maintain accurate editable records of all benefit time. Benefit time can be earned as a percentage of time worked or flat amounts. (Both can vary by years of employment). Many parameterized options exist for each benefit Pay Code (e.g., as to when the earned benefit time becomes available to the employee).

Each benefit Pay Code can be set up to: (a) check and prevent a supervisor from exceeding available hours, (b) check and allow a supervisor to exceed available hours only after overriding a warning, or (c) not check at all.

In assessing available hours, HisTrak® takes the current balance in the Benefit Accrual Table and subtracts hours of that type Pay Code from other areas in TimeTrak not yet reflected in the balance. This yields an accurate gauge of benefit hours available; avoiding, for example, the possibility of a supervisor giving vacation hours this week that are already designated, by employee request, for a week long vacation just two weeks from now.

In addition, HisTrak® offers a Pay-Out option of available benefit hours for companies with such requirements.