Financial year and Leave

Financial year and leave accounting setup

Introduction

This page will include a stepwise procedure for setting up a new financial year for the Pocket HRMS HR dashboard.

The page also explains the leave accounting along with its parameters for the selected financial year.

Pre-requisites:

Admin credentials

User rights

Note - Kindly contact your Admin/ HR for rights if you are not able to perform the steps below.

Steps

How to setup and configure financial year:

Step 1: Go to 'Settings'

Step 2: Proceed towards the 'Income tax' column.

Step 3: Select the 'Financial Year' option. Here you can add new and configure parameters for any financial year like start and end dates, Tan no., TDS circle, allowances, and all other mandatory options as shown in the screenshot below.

Step 4: After you successfully configure your financial year as required, click on 'Save'.

How to set leave parameters?

Step 1: Go to 'Settings'

Step 2: Proceed towards the 'Leave' column.

Step 3: Under 'Define Calendar' option, you can set leave financial year and leave parameters with respect to categories.

Step 4: 'Leave Definition' option is used to define leave types for employees. Different types of leaves are; PL (Paid Leave), LD (Loss of Pay day), CL (Casual Leave), etc.

Step 5: Option 'Leave Configuration' is used to set financial setting & monthly eligibility for the selected leave type.

Step 6: Next option 'Weekly Off' is used to create fixed holidays like weekends. You need to checkmark the boxes corresponding to days you want to select. Also, you can set half day leave or full day leave as shown in the screenshot below.

Step 7: 'Holiday' setting is used to create public or optional holidays for employees. Select the financial year and location to configure for.

Step 8: Option 'Leave Credit' is used to credit different leaves like CL (casual leaves), PL (paid leaves), etc. Select a category and leave type to be credited for the employee. Fill in the details as shown in the screenshot below and click on 'Save'.

Step 9: 'CompOff Credit' option is used to view/grant compensatory leave to employees for working overtime or as compensation. Select employee code and dates to view working hours and credit leave by clicking on 'Save'.

Step 10: 'Leave Eligibility' option is used to set leave earning for employees. The leave accrual rule involves setting number of days and exclusions while calculating attendance. After selecting required parameters, click on 'Save'.

Note: If you are unable to set financial year or facing difficulty in setting leave parameters, kindly contact us at [email protected]