Benefit Accrual Tracking
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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.
Having benefit accrual details accessible in the Time and Attendance application is vital for supervisors/managers to have instant access to the time off details.
With the Accruals Earnings Module paper records are eliminated allowing you to focus on other responsibilities.
The Accruals Earnings Module has the ability to exchange data with your Payroll / HRIS System. With the use of our data converter utility, the Accruals Earning Modules has the ability to both import and export the accrual details.
For over thirty-five years TimeTrak Systems has been developing, installing & supporting labor management solutions for businesses of all sizes and industries. TimeTrak provides integrated hardware and software solutions for time & attendance, labor distribution, employee scheduling & human resources.