Leave by Hours
When tracking by hours, you enter an employee balance in hours when you initialize the Manage Leave Beginning Balances screen.
The Leave Journal posts hours accrued, lost, and deferred each leave period. The Leave History table is updated with leave used amounts after you post timesheets for the leave period to Labor Distribution. When you print the Accrued Leave Report, Costpoint subtracts the Year-to-Date (YTD) used hours from the sum of the beginning balance hours plus the YTD Accrued hours, to arrive at the current balance in hours. Costpoint multiplies this current balance by the current hourly rate to arrive at the leave liability amount. A reversing timing entry may also be required, depending on your Leave Journal posting procedures. An accrual entry is required to record the additional liability that exists when pay raises are given.