What this does
A policy can close its year on each hire anniversary, on each 1 January, or never. When the year closes, the carry-over limit decides what stays.
How it works
- A policy says when the Year resets and the Carry-over limit.
- When you open a company after the reset date, the app does the reset by itself.
- The balance up to the limit carries into the new year as Year opened.
- The balance above the limit is either Forfeited or paid out on the next pay, as the policy says under Above the limit.
- A blank carry-over limit keeps everything.
See the next reset
On the employee's Time off tab, each policy shows "Next reset {date}", or "Does not reset".
Good to know
- Vacation pay in dollars is never forfeited. The excess is paid out.
- The reset happens when the company is opened, not at midnight. If nobody opens the company for a while, it catches up on the next open.
- With the Cloud add-on, two computers that both open the company in the new year end up with one carry-over, not two. Each movement has an identity built from the employee, policy, year and kind.
- A payout caused by a reset is paid on the next pay run.
- To change a rule, edit the policy. Past resets do not change.