Fixing the standard hours as 240 through out the year

1. Employee Basic Compensation hours set to have 240 hours per month. 8 hrs per day, 2880 hours per year and 360 days per year.2. During the month of January the employee applied for full month vacation. 1-jan to 31-jan.

3. Leave time card is created for 248 hours.

4. When we calculate the leave pay it should be for 240 hours as the hourly rate is derived based on 240 hours.

5. But the employee is paid extra 8 hours.

6. How ever, the leave balance has to go down by 31 days.

Is there a setup to achieve this scenario?