TimeBank was developed to create a mechanism for managing, storing and carrying forward pay-period values “banked hours” from one pay-period to the next. TimeBank can be regarded as a “savings account”, i.e. a stored amount of hours that can be added to and/or deducted from on a pay-period basis. Adding or subtracting to/from the “bank of hours” can be initiated on a pay-periodic basis (similar to a salary which is added to a bank account each pay-period) or as a one-time occurrence (similar to a cash withdrawal/deposit).
TimeBank functionality also includes: