The Spectrum TimeClock Accrual Module is an add-on module availble to Spectrum TimeClock customers with 50 or more employees. Using the accrual module, employers can have the system manage accrued and distributed hours earned and used by employees.
Based on your firm's accrual rules, Spectrum Research will setup the system to follow your accrual rules and hours distribution rules. After a payroll batch is run, it can then be "finalized", and Spectrum TimeClock will apply all of the rules based on hours worked by employees.
Setting up Accrual Bank AccountsWithin the accrual module, Spectrum Research will setup banked hours accounts for each employee, and for each type of banked hours - such as vacation, sick, PTO and comp hours. Any number of banked hour acount types can be setup.
Setting up Accrual RulesNext, we will setup all of your firm's accrual rules. Each employee type can have multiple accrual rules for each accrual bank account, based on length of employment. Each rule can be applied on per week, per month, per period, etc.
Setting up Hours Distribution RulesNext, hours distribution rules are setup so when they are paid hours of a type, like vacation hours, those hours come out of that employee's accrued hours account of the related type.
Administrator and Employee ReportingAdministrators can see screens rich in detail about accrued hours earned, applied, and their balances. Employees see similar screens about their accounts.
Managing Accrual Bank Accounts
Managing Accrual Rules
Viewing an Employees Accrued Hours
How Employee's See Accrued Hours