TimeTec Leave - Using Prorated Leave Balance for New Hire
Introduction
Prorated balance is a feature available in both leave policies and length of service accruals, where the number of leave days is divided based on service duration.
Take this scenario for an example. If your company's leave policy allocates 12 annual leaves a year in January, and you hired a new employee in October, you can use the prorated balance to allocate a percentage of his yearly allowance to the remainder of the calendar year.
*Prorated Balances are calculated using the user's Joined Date. If there is no available Joined Date, the current date is the Joined Date.
Hence, the new hire prorated leave balance can be set to four types of rounding on top of the standard.
1. Standard prorated
2. Rounding up to a full day
3. Rounding up to a half-day
4. Rounding down to a full day
5. Rounding down to a half-day
A. Default Standard Prorated
By default, the calculation for percentage Standard Prorated given by TimeTec explained as per below:
Prorated balance is a feature available in both leave policies and length of service accruals, where the number of leave days is divided based on service duration.
Take this scenario for an example. If your company's leave policy allocates 12 annual leaves a year in January, and you hired a new employee in October, you can use the prorated balance to allocate a percentage of his yearly allowance to the remainder of the calendar year.
*Prorated Balances are calculated using the user's Joined Date. If there is no available Joined Date, the current date is the Joined Date.
Hence, the new hire prorated leave balance can be set to four types of rounding on top of the standard.
1. Standard prorated
2. Rounding up to a full day
3. Rounding up to a half-day
4. Rounding down to a full day
5. Rounding down to a half-day
A. Default Standard Prorated
By default, the calculation for percentage Standard Prorated given by TimeTec explained as per below:
B. Prorated leave setup
1. Go to TimeTec Leave > Leave Settings > Prorated Leave Balance > Add
2. Set the “Prorated Leave Balance Name” > click on “Set the percentages uniformly”
3. On the bottom of the page, click on “Rounding” icon > Choose “Rounding Type” Round up or Round down and “To the Nearest” Full day or Half Day > Submit.
Round up to the nearest half: will add a half-day to your latest leave balance.
E.g.: Full working Hours: 8, Leave balance: 5 days 2 hours and 30 minutes.
Round up to the nearest half day = 5 days 4 hours
Round up to the nearest full day: will add one day to your latest leave balance.
E.g.: Full working Hours: 8, Leave balance: 5 days 2 hours and 30 minutes.
Round up to the nearest full day = 6 days
C. Rounding Example:
You can refer to the picture below for Rounding examples:
D. How to apply Standard prorated into Leave Policy
1. Go to TimeTec Leave > Leave Setting > Leave Policy > click on (+) icon.
2. Click on (+) to add new leave type into policy.
3. On the Default Balance tab you can choose all the Prorated rounding that has been set before
Note: If some of the screenshots or steps viewed here are different from the ones in the current system, this is due to our continuous effort to improve our system from time to time. Please notify us at info@timeteccloud.com, we will update it as soon as possible.
Note: If some of the screenshots or steps viewed here are different from the ones in the current system, this is due to our continuous effort to improve our system from time to time. Please notify us at info@timeteccloud.com, we will update it as soon as possible.
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