Termination Balances

This is the Termination Balance formula:

(((No of full months worked + (Portion of leaving month worked))
* (Full year's holiday entitlement / 12 months in a year))
- Holiday Taken to Termination Date)
+ Holiday Brought Forward

This is just a guide and your company policies may work out the balance differently. You can manually change this at any time on the employees Personal Tab.

If you make any changes to the Holiday fields or add/remove any Absences the system recalculates this balance.

A working example of the Termination Balance:

Termination Date: 07/08/2021 (Personal Tab)

Absence Year: 01/01/2016 - 31/12/2021 (back-end via Support)

Full worked months: 7 (Based on Termination Date)

Portion of worked month: 0.23 (Based on Termination Date)

Holiday Entitlement: 25 (Contract Tab)

Months in an Absence Year: 12 (Absence Year)

Holiday Taken this Year to the Termination Date: 13 (Absence Tab)

Holiday Brought Forward: 3 (Contract Tab)

So this becomes:

(((7 + (7 / 31))

* (25 / 12))

- 13)

+ 3

Which broken down is:

7 / 31 = 0.23 (portion of worked month)

7 + 0.23 = 7.23 (total months worked)

25 / 12 = 2.08 (entitlement per month)

7.23 * 2.08 = 15.06 (entitlement accrued)

15.06 - 13 = 2.05 (entitlement left to take, thus owed)

2.05 + 3 = 5.06 (Termination Balance rounded to two decimal places)