What is the Bank of Hours?

The Bank of Hours serves as a balance representing the total extra hours accumulated by an employee. These hours are available for use in work schedule adjustments or as compensation.

It’s particularly beneficial for companies with seasonal planning, shift-based work, or those utilizing a re-planned compensation strategy.

How to configure the Bank of Hours?

1. Go to Settings > Time Tracking
2. Select the Time Tracking Policy you want to edit
3. Under Work Time Categories, in the Extra hours calculation section configure:
   1. Reference point:
      1. Planned Hours (default): Compares worked hours to scheduled hours.
      2. Agreement Hours: Compares worked hours to the employee’s contract.
   2. Set the Calculation Frequency for extra hours:
      1. Daily: Extra hours are calculated and added to the Bank of Hours every day.
      2. Weekly: Extra hours are calculated and added at the end of each week.
      3. Monthly: Extra hours are calculated and added at the end of each month.
   3. Establish Bank of hours reset frequency
      1. Daily
      2. Weekly
      3. Monthly
      4. Yearly
      5. Never

How is the Bank of Hours calculated?

The balance is calculated using a simple formula:

BOH = worked time + paid leaves - contract  /  BOH = worked time - (planned - paid leaves)

This balance is displayed directly in the employee’s timesheets, providing an up-to-date view of extra hours accumulated.

Where can you view the Bank of Hours?

The Bank of Hours balance is visible directly in the timesheet.

Clicking on the balance will open a side panel displaying all transfers made during the defined cycle. This detailed view ensures transparency and allows you to monitor adjustments or compensations made through the Bank of Hours.

Extra hours

What are Extra Hours?

Extra Hours refer to any hours worked beyond the established reference point (planned or agreed hours).

How to define extra hours?

Base rule

By default, extra hours are tracked according to a base rule configured by the system. The base rule assumes:

• 1 hour worked = 1 hour credited
• The default compensation method is the Bank of Hours (tracked hours are added to the Bank of Hours balance).

You can edit the base rule to modify the compensation method, choosing options such as Time Off or Payroll to suit your needs.

Custom rule

While the base rule offers a straightforward way to track extra hours, you can create custom rules for more precise tracking and compensation.

1. On the sidebar, go to Settings
2. Under Time, select Time Tracking
3. Choose the relevant Time Tracking Policy
4. Navigate to the Work Time Categories tab
5. Scroll down to the Extra hour rule section
6. Click New extra hour rule to create a new entry:
   • Enter the name of the extra hour rule or select one from the dropdown.
   • Define tracking condition: specify whether hours should be tracked based on a fixed hour range or as unlimited. 

• Set the hourly rate to apply for hours tracked under this rule.
• Choose compensation method:
  • Bank of hours: The tracked time stay in the Bank of hours with the applied hourly rate.
  • Time off: The tracked time transfers to the Time Off counter with the applied hourly rate.
  • Payroll: The tracked time is available for manual compensation from the timesheet. In the compensation tab you will see the hours tracked, the category name and the multiplier value.

Where can you view Extra Hours?

Extra hours tracked according to your rules can be viewed in two main areas:

1. Timesheet, side panels:
   1. Time Breakdown side panel shows the total amount of extra hours worked following any defined rule.
   2. Compensation side panel provides details on how these hours were compensated based on the configured rules.