Over Accrued hours expiration requirement
Summary:
Hi, we have a requirement to forfeit any over accrued hours employee has by the end of each calendar year. Here are the details/scenario:
Accrual is incremental each month (monthly repeating period) at 9.38 HRS each month
An employee can accrue upto 112.56 hours each year (9.38 * 12 months) —> this is the max
Lets say employee has accrued throughout the year of 2024 and take into consideration any adjustments or accruals from previous year, his balance at the end of the year is 160 hours. Given that 112.56 is the max, his over accrued hours is 47.44 (160-112.56). We want the employee have this extra hours only until June 30th of the following year. After June 30th, these extra hours should be deleted.