Overview: 

View Future Balance, Time Off Type, Balance on particular future date


Description:


It definitely helps employees to be aware of their policy and how different Time Off Type works in action as per the policy designed by the organisation (More on this, click here). 

However, when it comes to effective planning of one’s Time-Off for dates which are outside the purview of current date and requires them to understand their checks and balances pertaining to their time-off time on a future date, then it becomes a case of BODMAS. Not literally but somewhat close. 


With the all new “View Future Balance” one can simply plan their time-off based on a future date. With the option to select Time Off Type and date selection field, employees can view their balances that correspond to a particular Time Off Type on a future date. This helps employees to plan their Time Off efficiently by keeping a tap on Time Off constraints that are associated with a Time Off type based on policy set by the organisation. 


Accessing Future Balance View

In order to view one’s time-off statement the user must do the following:


1. Go to Time-off on the right side navigation tab and hover over the same 

2. Click on Employee time off from the time off selections 

3. On the Employee time off page click “View Future Balance” 


Below GIF demonstrates the same

Understanding “View Future Balance” 

Your “View Future Balance” has a “Time Off Type” dropdown field that comprises different time-offs that are available for your employees, based on organizations policy. Below Image shows the same


Each “Time Off Type” comes with various details pertaining to employees' time-off. The “View Future Balance” encapsulates the following information, as shown below:



1. Time Off event: The type of time-off event for which the time off was applied (Includes accruals & Lapsed time-off)

2. Dates Applicable: The duration for which the time-off event was applied 

3. Days: The number of days for which the time-off event that took place (Includes Time off lapsed & accruals)

4. Balance: The remaining number of days in ones time-off post applied time-off event


Accruals Credited: Event which corresponds to Time Off that an employee has earned but not yet used. This time off is then carried over to the next year or is paid out when an employee leaves the company. As a company, how many days are allowed to be carried forward is made of several combinations of teams, departments, regions and so on. Freshteams’ Time Off statement and its details makes it easy for employees to view their Time Off and how accruals work based on their respective policy.   

 

Time Off Lapsed: Event that corresponds to Time Off that got lapsed due to exceeding the max cap on the Time Off type. The capping on Time Off Type can be defined while creating the policy. Similarly for Time off lapsed, through Time off statement and its details, employees can look through, how the policy accommodates lapsing of time off


Future Balances are arranged in ascending order of time, with the row on the top corresponding to the balance on the current date followed by various Time Off events that will take place on a future date as per the Time Off policy.