Leave Bank - Rollover Process for the New Fiscal Year

Overview

There are several tasks to perform when your fiscal year ends. One of these tasks is to reset the leave bank hours.

This document provides a guide to the leave bank fiscal year rollover. It will explain the process of setting up the next fiscal year and demonstrate the steps needed for a few common scenarios.

Closing the fiscal year will zero out the current fiscal year balances and will start the new fiscal year at zero hours.

It will also apply the base yearly allowance (copied from last year unless another amount was saved) and will add any eligible carry over hours from the previous fiscal year as per the carry over value.

Leave Bank Fiscal Year Rollover Job Aid

Let's use the following example:

Current Fiscal Year: January 1, 20xx to December 31, 20xx

Next Fiscal Year: January 1, 20xy to December 31, 20xy

Prior to running the Leave Bank Fiscal Year Rollover, ensure all pending leave requests for the current fiscal year have been Accepted, Cancelled or Declined.

In our example, we will need to make sure that all leaves for January 1, 20xx through December 31, 20xx, have been approved or declined.

Identify Pending Leaves

Logged in as a System Administrator, go to Manage Leave Requests and adjust the date range and filters to address any pending leave requests.

Confirm employee leave account Maximum fiscal carry over totals are applicable for the rollover.

In our example, confirm that all values in the carry over column are the correct maximum values that employees are allowed to carry over from year 20xx to 20xy.

Adjust Maximum fiscal carry over

From Home, go to Leave Bank and select an employee. Click the edit icon to adjust the Maximum fiscal carry over field.

Optionally, adjust the employee leave account Base yearly allowances for 20xy, but ensure that you have deselected the Apply to current fiscal year option.

Warning

If this step is not done, the base yearly allowances for 20xy will be the same ones that you had for 20xx. After the fiscal year rollover, the base yearly allowances for 20xy can be adjusted with the option Apply to current fiscal year selected.

Navigate to Home > Leave Bank and click the View Fiscal Year Setup button.

Click Close Fiscal Year.

Fiscal Year Rollover Scenarios and Adjustments

Maximum Carryover Zero, Employee Balance Zero

Employee balance is zero at the end of 20xx (current fiscal year), and the maximum fiscal carryover is zero.

• No adjustments are needed on December 31st, 20xx (current fiscal year) as the balance is already zero.

• Update the Base Yearly allowance field on January 1st, 20xy (next fiscal year).

• No adjustments are needed on January 1st, 20xy (next fiscal year) as no hours were carried forward.

Maximum Carryover Zero, Negative Employee Hours Remaining

Employee balance is negative 5 hours at the end of 20xx (current fiscal year) but the Maximum fiscal carryover is zero. The approval manager allowed the employee to take an additional 5 hours in 20xx but wants to pull it from their 20xy leave bank.

Click Add Adjustment and enter a positive value to add 5 hours on December 31st, 20xx (current fiscal year) which will set the Hours remaining field to zero.
Update the Base yearly allowance to the correct value on January 1st, 20xy (next fiscal year).
Click Add Adjustment and enter a negative value to remove 5 hours on January 1st, 20xy (next fiscal year) to account for the hours owed in 20xx (last fiscal year).

Maximum Carryover 40 hours, Positive Employee Hours Remaining

Employee balance is a positive 35 hours at the end of 20xx (current fiscal year) and the Maximum fiscal carryover is 40 hours.

Click Add Adjustment and enter a negative value to remove 35 hours on December 31st, 20xx (current fiscal year) which will set the Hours remaining field to zero.
Update the Base yearly allowance to the correct value on January 1st, 20xy (next fiscal year).
Click Add Adjustment and enter a positive value to add 35 hours on January 1st, 20xy (next fiscal year) to account for the hours carried forward from 20xx (last fiscal year).

Maximum Carryover 40 hours, Employee Balance is Greater

Employee balance is positive 45 hours at the end of 20xx (current fiscal year), but the Maximum fiscal carryover is only 40 hours. They will lose 5 hours.

Click Add Adjustment and enter a negative value to remove 40 hours on December 31st, 20xx (current fiscal year) which will set the Hours remaining field to five.
Click Add Adjustment and enter a negative value to remove the remaining 5 hours on December 31st, 20xx (current fiscal year) which will set the Hours remaining field to zero.
Update the Base yearly allowance to the correct value on January 1st, 20xy (next fiscal year).
Click Add Adjustment and enter a positive value to add 40 hours on January 1st, 20xy (next fiscal year) to account for the hours carried forward from 20xx (last fiscal year).