What this does
SeroPayroll never stores a balance by itself. A balance is the total of ledger movements for one employee and one policy, kept in hours or dollars. You can always see why a balance is what it is.
The movements
- Opening balance. What the employee had when put on the policy.
- Accrued. Posted when a pay run is approved.
- Taken. Posted when a pay run that pays approved time off is approved.
- Paid out. A payout you made, or a payout on leaving or on a yearly reset.
- Year opened. The carry-over at the start of a new year.
- Forfeited. The part above the carry-over limit, when the policy forfeits it.
- Granted. A yearly grant.
- Adjustment. A change you made by hand, with a reason.
Where to see them
- On an employee's Time off tab, choose History for any policy.
- On the Transactions tab, quick report Vacation summary lists the movements for the year.
How pay runs change the ledger
- Approving a run posts accrual and time taken.
- Reversing a run takes them back out.
- A final pay pays out the balance. See Time off: final pay payout.
Good to know
- The ledger is per employee and per policy.
- The year resets by the policy's rule. See Time off year reset.
- The vacation liability report works from year-to-date earnings, not from the ledger. The accounting journal posts vacation payable from the ledger. See Reports: the list.
- Adjustments need a reason and are in the audit log.