Time Bank Hours

Time Bank Hours

Entering Time Bank Hours

Time bank hours can be entered manually, or by enabling the option to automatically bank overtime.  To bank overtime, enable the option on the staff member's time bank page.



Overtime hours are banked at the end of each week.  Your week ends based on the value you've selected for "First day of the week" on the General tab of your Settings page.  For information on how overtime is calculated, click here.

To enter hours manually, click "Make a deposit" on the staff member's Time Bank page.




Using Time Bank Hours

Time bank hours are hours that an employee can take off, just like any other time off option.  The primary difference is that you, as an administrator, do not need to create a time off option for time bank hours, as this option is built into Timesavr.  Time bank hours can be used either when inserting time off on the time sheet, or when requesting time off.



Time Bank on Payroll Reports

Payroll reports can automatically deduct time banked by staff, so that you don't pay them for those hours.  When enabled, you'll see a  "Minus Banked Time" column which shows you the value from Total, minus hours in the time bank.  This is the value you want to use (instead of Regular Hours) to calculate the pay cheque.



These time bank hours, are not specifically listed on the payroll report, and may or may not match the overtime hours.  If all overtime is banked, and no other banked time is granted, then the Regular Hours (in the grey column) and hours minus banked time should be the same, because Regular Hours does not include overtime.   However, you may insert banked time hours, for any reason, even if no overtime was worked, in which case the "minus banked time" hours will not match the regular hours.

Examples

Regular Hours
Overtime Hours
Total
Hours
Banked
overtime hours
Other
banked hours
Total
Banked Hours
Minus
Banked Time

8
1
9
1
0
1
8

8
1
9
1
1
2
7


As per the examples above, if Amy worked 8 regular hours, plus 1 hour overtime, but that 1 hour of overtime is banked, then her total hours is 9 hours, but 8 if we subtract the banked time.  So then we have 8 regular hours, and 8 "minus banked time" hours, so they are the same.  However you may be banking time for some employees for reasons other than overtime, in which case the "minus banked time" hours will be different than the regular hours.

Expired Hours

The used column will be used to keep track of Time Bank hours taken as time off, in order to facilitate the expiring of banked hours which are not used within the allotted time period.  This expiry period defaults to 6 months in TimeSavr, but this setting can be adjusted on the Staff tab of your Settings page, in accordance with your region's overtime laws. 



Expired time off is automatically calculated whenever time off is approved or inserted, or a time bank entry is made, at which time an adjusting entry is made to subtract those expired hours from the bank balance.  This calculation of expired time can also be forced by use of the Recalculate button.



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