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1. Defining Accruals
- Choose between Front-Loaded (entire entitlement at start) or Incremental (installments).
- Define accrual frequency, proration, and vesting rules.
- Create Repeating Time Periods (e.g., weekly, biweekly, monthly, semimonthly).
2. Accrual Methods and Rules
- Proration Rule: Based on FTE or formula.
- Vesting Rule: Delays use of accrued time (probation scenarios).
- Accrual based on service length, job, or location using Accrual Band Matrix.
3. Accrual Plan Limits
- Define:
- Max accrual per term
- Carryover rules
- Negative balance limits
- Ceiling rules
4. Accrual Matrix Configuration
- Configure differentiated accrual benefits by criteria like years of service.
- Use Expression Builder to define eligibility.
- Sequence rules to control matching logic priority.
5. Rate Configuration
- Determine how to pay employees for absences or payouts:
- Absence Payment Rate Rule
- Final Balance Rate Rule
- Disbursement Rate Rule
- Liability Booking Rate Rule
- Rate calculations can use predefined Rate Definitions or Formulas.
6. Adjustments and Entries
- HR Specialists can:
- Adjust accrual balances
- Transfer balances across plans
- Disburse accruals as cash
- Adjustment options must be enabled in plan configuration.
7. Payroll Integration
- Absence plans integrate with Oracle Global Payroll or 3rd-party payroll using HCM Extract.
- Transfer data via Absence Calculation Card.
- Elements must be defined for disbursement, liability, and final payouts.
8. Examples and Demonstrations
- Step-by-step setup illustrations for:
- Weekly/Biweekly/Monthly/Semimonthly periods
- Sample Accrual Matrices
- Payroll calculation and transfer flow
9. Quizzes & Summary
- Key concept validation through quizzes.
- Summary recaps plan creation, rates, adjustments, and integration steps.
I hope this blog post was helpful for you. If you have any questions or feedback, please leave a comment below.