FastTrack360 Version 12 Online Help
Accrued Leave Balance Report Enhancements
- Fiona Sims
Description
Additional columns have been added to the summary and detailed versions of the Accrued Leave Balance Report that is available under Leave > Reports in this release.
A new column labelled Cost has been added to the summary version of the report to show the combined cost of the accrual and entitlement balance for leave types that are listed on the report. An example of this is highlighted below.
The detailed version of the report now includes a new column labelled Cost and a new column labelled Average Rate, which display the combined cost of the accrual and entitlement balance and the rate applicable to the accrual of a leave type respectively. An example of this is shown in the example below.
The following conditions apply to the Cost column on the summary and detailed versions of the report:
it is blank if the corresponding leave type has an apply to type of Days because the system cannot calculate an hourly rate for such leave types
it is blank if the corresponding leave type accrues as a fixed number of hours or days such leave types do not accrue based on pay code(s) from which an accrual rate can be derived and the rate cannot be determined
if neither of the above conditions apply, the column displays the monetary cost of the combined accrual and entitlement balance of the corresponding leave type.
The cost is the sum of the average accrual rate multiplied by the number of units accrued per instance of accrual. For example, if 2 hours of leave have been accrued during a single week and the accruals were triggered by pay code X, which has a pay rate of$32.50 per hour, and pay code Y, which has a pay rate of $35.95 per hour, the resulting cost of accrual would be as follows:
2 x ((32.50 + 35.95)/2) = $68.45
If the following week another 2 hours is accrued and the accrual is triggered by pay code Y and pay code Z, which has a pay rate of $33.00 per hour, the accrual cost for the second week would be:
2 x ((35.95+33.00)/2) = $68.95
Therefore, the combined cost of the leave accrued at the end of the second week, assuming no leave had been taken or paid out in the interim, would be as follows:
68.45 + 68.95 = $137.40
Note that when leave is taken or is paid out, the balance of the accrual cost is deprecated at the accrual rate and not at the rate the leave was paid. That is because:
at the time that leave is accrued the rate at which that leave will be paid when taken or paid out is unknown because that will depend on the leave deduction rule that will be triggered at the time of making the leave payment
because of the above, leave could be paid at a higher rate to that at which it was accrued and therefore deprecating the remaining cost balance at a rate equivalent to the rate of payment could result in a negative cost balance.
The following conditions apply to the Rate column on the detailed version of the report:
it displays NA for leave types for which the system cannot calculate an hourly rate, including leave type where the following applies:
the apply to type is Days
the accrual type is Percentage or Bank
the apply to type is Wages and an accrual type of Fixed (note: in this case the rate is equivalent to accrual cost, as shown in the Cost column).
Benefits
These enhancements allow the Accrued Leave Balance Report to be used to report on accrued leave liabilities.
Configuration
No configuration required.
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Related pages
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