Does anyone have a great tool that helps them track vacation dollars? We pay on earned dollars as you should however we seem to be struggling with excel as it is so heavily formula based. Our payroll system does not have time and attendance so there is no way for us to automate it. Looking for best advise to move forward with.
We track both prior vacation (earned last year to use this year) plus current vacation (very fluid as it changes with each pay and some employees use this as policy allows to use as accrued).
even though you do not have time and attendance, you can still setup vacation accrual in payroll if using ADP or something similar. Formulas would be in payroll and would calculate each pay. When employee takes vacation, you can then record payment in payroll system. Can setup both prior vacation earned and then separate current earned if taking last years earned in current year. At end of year, you just move balance of current year to prior year earned earning, and restart current year earning at zero.
Thank you Susan, I’ve been trying to work with ADP about the “time off policy” that we are not utilizing but not getting much help. Will continue my efforts.
If you use Dayforce or similar system, you can have similar vacation tracking like in your example. Employees can only use previous year’s accumulated vacation this year and current year’s vacation is automatically cascaded into previous year’s bucket at the end if the fiscal year. That they will use next year.
