Lavie TimeTECH’s Benefit Accrual Module is an add-on to the TimeKeeper core system that provides an automated "tool" for managing the accrual and usage of employees benefit hours in accordance with your company’s benefit policies. Benefit Accruals Flexible Functionality also includes:
- Create and manage an unlimited number of benefit types (i.e. paid and unpaid vacation, sick time, etc).
- Accrue benefits on a Flat-Rate basis (commonly used for Sick or Personal time).
- Accrue benefits using Employee Profile-Based Information (e.g. Paid Vacation allowances that depend on Seniority).
- Accrue benefits using Daily Attendance-Based Information (i.e. dynamic allowances based on no. of hours worked)
- Allowance rules that can be either conditional or non-conditional.
- Automatic conversion of overtime hours to Benefit allowances.
- Sophisticated rules for handling Maximum Accrual Limits, Discard rules and Carry Forward rules.
- Automatic deduction of attendance deficiencies (i.e. missing hours) from Benefits with positive balance.
- User defined handling of Negative benefit balances (completely disabled or partially allowed)
- Track Benefit values in days, hours or both.
- Multiple tracking frequencies (i.e. weekly, biweekly, semi-monthly, monthly etc.).
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