Accrual/Compensatory Absence Plan Based on Previous Payroll Earnings

Summary:

Hi everyone,

We're exploring a requirement and would appreciate any suggestions or experiences from anyone who has implemented something similar.

Requirement:

We need to create an Absence Plan (either Accrual or Compensatory) where the accrual is based on the employee's earned pay value from the previous payroll period.

For example:

• Employee earned $2,000 in the previous pay period.
• Accrual formula = $2,000 × 0.04 = $80.
• If the employee's hourly rate is $40/hour, the absence bank should be credited with 2 hours.

The challenge is determining the best design approach.

Option 1 – Accrual Plan

• Create an Accrual Plan.
• Use a Fast Formula to retrieve the previous payroll balance/pay value and calculate the accrual.