An upcoming benefit for those working in HR and payroll, is Azets’ brand new function of Live Balances, which will show you real time balances. The system will add or reduce days or hours into the balance immediately when an employee reports something in the time reporting calendar.
This feature will gradually be offered to the Nordic countries throughout the remainder of 2022. Denmark will be the first, with new features coming into effect for Danish companies already in June.
The balance used to be updated once a month by payroll after they had calculated it in the payroll system. And if a user reported something in the system, the balance didn’t update and still showed the same amount of days and hours left as it was before doing the entry.
Now, we have some brand new features to make this job a lot easier.
Live balance setups
The new feature allows payroll to create live balances for day and hours calculations.
- It’s up to the reporting types whether it is hours or days, and the new live balance can add and reduce days/hours from the balance.
- Once configuring the setup, it’s decided which reporting type adds or reduces the reported amount into the balance.
- There can be daily and overall limits for the balance, connect multiple balances into one live balance, and select the order of which balances will be used first and what comes after.
Live balance can be set for vacation days. It can be connected using different balances from different vacation years and select the order of which balance will be used first. You can also set limits for the balances, for example that any vacation balance cannot be less than 0. This means that once the first vacation year balance is zero it moves to using other balances. Once all the balances are used from the vacation live balance the user cannot report any more days if you have set the limit in there.
Flex hour live balance
You can set a live balance for hours of employee reporting. You can select which reporting types will add hours into the live balance and which reporting types will reduce hours from the live balance.
You can also set daily limits for the reporting type so they cannot report more hours for the day that is agreed. And then you can set the overall limit for the live balance. Example of the overall limit is +40 hours and daily limit is +4 hours, which is easy to set up.
These are only a couple of examples of how the new live balances feature can be used. As a feature, live balances are quite versatile.
Here are some benefits from using live balances:
- Users will see realtime balance when reporting events in the calendar. There can be a limit that they cannot report more days than they have balance.
- Managers and client HR find it easier to follow how many vacation days their employees have left and easier to follow that all the days are used during the vacation year.
- Saves time and reduces the risk of errors.
- Balance history is visible.
In the future, there should not be that many balance updates since the system can calculate the days and hours by itself and update the balance. Of course, payroll needs to update the new earned vacation days into the balance and then the system can do the calculations based on the setup.