Vacation Time

[pls7809]

edit...

You will complicate your accounting of this by doing it this way. But it's definitely a fairer way to do it.

I guess I didn't take into account weekends.

0.31 hours accrued per work day (including holidays) gets you 81 hours per year.

[pls7809]

At my company we accrue vacation and sick dollars per year, not hours. Every employee has a vacation and sick account with a dollar amount equal to a percentage of their gross pay which is accrued per pay period. You take the dollar amount shown on our pay stub every two weeks, divide by hourly rate and that's how many hours we have available.

[MikeTurnrose]

My employer before I owned my own business based my vacation upon hours worked. I think that's the way the county did it.

[mpallamary]

I owned and operated a midsize firm for twenty years. The way I did it was based upon a formula based upon the number of hours worked a year exclusive of holidays. The basic formula is as suggested above, the employee should earn a certain amount of time based upon hours worked.

I also required my employees to review, sign and accept the terms of this engagement as was my practice with all employees. If you work more you earn more pay and vacation time. I also had a schedule developed wherein a maximum number of vacation days could be accrued.

I will see if I can find these forms. I haven't had any employees for ten years now.

Good luck.

[mpallamary]

Hi Steve,
I am still looking for the vacaton formula. My computer is searching for it. In the meantime I stumbled on the attached article I co-authored back in 1998 for PS.