Accrual Formula

[Guest]

I've got a beauty for you.
From 0-4 years, the employees get 0.83 days accrued per month.
From 5-8 years, the employess get 1.25 days accrued per month.
9 and over years, they get 1.70 days per month.
I've currently got the worksheet to calculate starting from Jan 1st of each
year through December 31st, depending on the years they worked.

What I don't have is if they start in the middle of the year, how to
calculate accrued time.

Also, I've got it set up so that at todays date, if I've used more vacation
time than I've accrued, this is the amount that I have to pay back. However,
we also need to have it show 30 or 60 days from now in case the employee
gives notice.

 

[Guest]

It's accrual world.

But seriously, don't start on Jan 1. Start on the hire date instead.

 

[Guest]

Here is a partial model:


in A1 enter:
1/1/2007
In B1 enter a typical hire date
2/15/2002
In C1 enter:
=DATEDIF(B1,A1,"y")
In D1 enter:
=(C1<5)*0.83+(C1>=5)*(C1<9)*1.25+(C1>=9)*1.7

In A2 enter:
=DATE(YEAR(A1),MONTH(A1)+1,1)

copy A2 down thru A12
copy B1 down thru B12
copy C1 down thru C12
copy D1 down thru D12

 

[Sandy Mann]

I assume that the vacation year runs from January 1 through to December
31st.

How do you work out the number of years? Is it full years completed up to
the previous January or years from the start date of the person. If from
the start date then - say - if someone starts on July 1 and has completed 5
years service, in September do you calculate 6 months at 0.83 (because up
until the start date he/she did not have 5 full years service), and 2 months
at 1.25 days?

Are accrued days rounded up or down to the nearst whole number of days?

Do you want to forcast for 30 and 60 days or one and two months?

--
Regards,

Sandy
In Perth, the ancient capital of Scotland
and the crowning place of kings

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