Unlocking Efficiency: Calculate Accurate Year-End Holiday Balances with Precision and Ease with Alkimii
As the year draws to a close, it's crucial to ensure that your holiday balance calculations are not only accurate but also seamlessly integrated into your year-end processes. In this comprehensive guide, we walk you through the essential steps of cutover processing for holiday balances, focusing on precision and efficiency. Let Alkimii streamline your year-end procedures and ensure a smooth transition into the upcoming year.
At the end of every year, Alkimii will prompt you to complete the holiday balance cutover from the current year into the new year.
If your holiday year ends on the 31st of December, once the week containing the 1st of January is paid, you will see the option in Alkimii to cutover your holiday balances for all employees.
Your final week of the year must be marked as PAID so that your final cutover balance is based on paid hours.
Once you mark the last week of the year as PAID, please follow the below steps to complete the holiday balance cutover process.
- Using the mega menu, navigate to Staff Profiles
- Along the top navigation bar, select "Set 2024 opening Balances". Please be advised this year will be subject to change to reflect the new year.
- You will be directed to a pop-up displaying all employees, department and their current balances.
- In the pop-up you will also see "Already set", this will display a tick beside any employee who has the cutover complete. The "x" is present for all employees pending the cutover.
- Under each heading, you will see the Open, Earned, Manual modifier, Taken and Balance remaining.
- The red colour will represent the current year's balances
- The blue colour will represent what the balance is going to be once the cutover has been completed.
For Irish properties you will see a figure under the Public Holidays "Earned" in the new year, this balance will reflect the accrual for the Public Holiday on the 1st of January.
- Once you are happy with the changes, scroll down to the bottom of the pop-up and select "Set Balances".
- A progress bar will appear, this can take a few minutes to complete so please give it time.
- Once it has been completed successfully, you will see "Process Complete" on the progress bar. Click on the "X" to close the pop up.
- Refresh the page. Now you can check whether those balances have cutover successfully. Again select "Set 2024 Opening Balances", you should see a green tick beside all staff whose cutover has been completed.
- Now, using the mega menu search "People Reports" and select "Reports"
- Select "Holiday" from the list on the left side of the screen.
- Locate "Holiday Balance Report", from the dropdown menu select 2023 and select "Generate". This will generate the final Holiday Balance Report for 2023 up to the 31st of December. This can be downloaded at any time and will remain as a permanent record of 2023 Holiday Balances.
You will also see a 2024 report appearing within this dropdown. This will display all holidays earned and taken from 1st Jan 2024.