Creating accrual policies

Setting up accrual policies involve selecting the accruals to assign to the policy. You can assign a single accrual to a policy, or you can extend the policy to include multiple accruals. Each accrual you assign to a policy has an inclusive start and end date and can have an explicit priority.

  1. Select Maintenance > Balances and Accruals > Accruals > Policy Setup.
  2. Click Create New Entry.
  3. In the Policy Setup - Details section, specify this information:
    Name
    Specify the name of the accrual policy.
    Description
    Specify a brief description of the accrual policy.
    Start Date
    Select the date that the policy starts.
    End Date
    Select the date that the policy ends.
  4. Click Save.
  5. In the Employee Accrual Policies section, click the new row icon, and specify this information:
    Accrual
    Select the accrual to include in the policy.
    Start Date
    Select the start date of the effective time span of the accrual.
    End Date
    Select the end date of the effective time span of the accrual.
    Priority
    Optionally, specify an integer to represent the accrual’s priority, relative to the other accruals within the policy.

    This value is used to determine the order in which the accruals execute within the policy. Accruals with a lower priority value are executed before accruals with a higher priority value. Accruals without an explicit priority value set are executed after those with an explicit priority.

    For example, a policy has three accruals: A1, A2, and A3. A1 has a priority of 1, A2 does not have a priority set, and A3 has a priority of 3. In this case, the accruals are executed in this order: A1, A3, and then A2.

    Note: Each accrual should have a unique priority value. If two accruals have the same priority value (or no explicit priority value is set), then the order is determined by the internal ID of the accrual.

    You can include additional accruals by clicking the new row icon.

  6. In the Balance Exports section, click the new row icon, and specify this information:
    Balance Name
    Select the balance to export.
    Start Date
    Select the start date of the effective time span of the balance export.
    End Date
    Select the end date of the effective time span of the balance export.
  7. Click Save.