The Vac/Hol/Sick G/L Accrual Report/Update screen is used to track accruals for vacation, holiday and sick hour benefits in order to compute vacation, holiday, and sick time liability amounts that have not yet been used on an employee-by-employee basis.

Benefit totals will be obtained from the Payroll Time Off Bank Log Table using the check date for 'YTD Earned'. If the Set to zero anniversary? checkbox was selected on the Payroll > Time Off Code Maintenance screen, the balances will be calculated for the current year only based on the employee's anniversary date. When vacation, holiday, and sick pay is accrued in the general ledger, a liability is recorded on the balance sheet to represent payroll amounts that are due at an unknown future date. This amount will fluctuate from period to period as additional vacation time is earned and days off are taken. This balance can be adjusted as needed.

All employees who have been assigned an accrual code in Employees will be included on this report, even if the current hourly balance is $0.00. Additionally, this report will also include employees who have not been assigned a vac/hol/sick accrual code when the current hourly balance is non-zero. If an employee has not been assigned an accrual code in Payroll, then the code and description fields will appear blank on the report for that employee.

Typically, the General Ledger entry used to offset the vacation, holiday, and sick hours liability will be an administrative expense G/L account. If Spectrum determines during this update that invalid G/L account codes are assigned for vac/hol/sick accruals, the G/L Error Correction Screen will display enabling you to enter valid G/L account codes for all errors found.

Additionally, if any G/L account code errors are found when the report is printed, Spectrum will print an additional exceptions report.

Vacation, Holiday and Sick Accrual by G/L Account Code

Vacation, Holiday and Sick Accrual by Employee Code