Banked Leave is a special type of Leave whereby the Employee's Gross pay is reduced using a Pre-Tax deduction and this money is used to pay for the hours accrued (or banked). This is a form of salary sacrifice.
Eg. Employee works 40 hours per week, and by agreement 2 hours are converted to banked Leave accrual. So the persons Gross pay is reduced to 38 hours and 2 hours become available as Banked Leave which can later be used as a paid RDO.
To set up banked leave for a Rostered Day Off please follow below steps.
Set up Leave. Leave Class is Banked Leave
Leave Accrual Method is Banked Leave
Banked Leave needs to have zero leave accruals setup
We then need to go into the employee card and add the Leave and setup the banked leave at the bottom of the leave page
5% of worktime to be banked on a 40 hour week is 2 hours.
Minimum Worktime can be one working day (8 Hours) or a working week (40 hours)
On the pay screen you can see the employee worked 40 hours, is paid for 38 hours and 2 hours are banked from their Gross Pay.
