Accrual Setup - Accrual Plans

Accrual plans are available for setup if your company has purchased the Accruals module. An accrual plan contains the definition of the accrual plan year as well as an assignment to an accrual code and script assignments. A company may have multiple accrual plans specified. Multiple accrual plans can be assigned to a single employee.

Before establishing accrual plans, accrual codes must be defined. Define accrual codes in System Setup – Reference Tables – Accrual Codes.

To create an accrual plan, follow these steps:

1.       Select Company Setup – Accruals Setup - Accrual Plans.

2.      Click the ‘Add’ button.

3.       Enter the accrual plan Name and Description.

4.      Select the Accrual Code for the plan.

5.       Select the Year Code (Daily, Monthly, Quarterly or Unlimited).

6.      Enter the Period Length.

7.       Select the Plan Start (Hire Date, Last Raise Date or Plan Date).

8.      Enter the Start Date.

9.      If applicable, enter a Minimum Balance for the accrual plan. If a user does not have a security restriction in place to not enter records that bring an employee’s balance to zero hours (i.e. SUP Other Hours – Negative Accrual Balance), if a minimum is entered, the user will receive a prompt if the entry exceeds the minimum balance.

10.   Set Prevent Import from modifying plan to ‘Yes’ or ‘No’.

11.   Click the ‘Save’ button.

12.   If applicable, in the Assign Script section, select the script assignment to utilize for calculations for this accrual plan then click the  button.

13.   Click the ‘Save’ button.