Managing Vacation Buy/Sell Plans

This chapter provides an overview of the vacation buy/sell process and describes how to review vacation buy/sell calculation results.

Understanding the Vacation Buy/Sell Process

This section outlines the vacation buy/sell process, which enables employees to buy or sell vacation time.

To process vacation buy/sell earnings:

1. Enroll eligible employees into vacation buy/sell benefit plans using the Vacation Benefits page and enter their vacation buy and sell elections.

   Employees normally elect to buy or sell vacation once at the beginning of the plan year. When an employee buys vacation, your PeopleSoft HR system spreads the cost over the plan year, deducting from employee pay based on the frequency that you define on the Deduction Table. The same is true for vacation sell. The system refunds the money over the plan year according to the frequency that you define.

2. Use PeopleSoft Payroll for North America during the first payroll cycle of the plan year to calculate the effect of the buy or sell transaction on the employee's leave balance.

3. Run the Leave Accrual process, which updates employee leave balances with the results of the buy or sell transaction.

Working with Mid-Year Buy or Sell Transactions

In the Manage Base Benefits business process, if an employee elects to enroll in a Vacation Buy/Sell plan at a time other than the beginning of the plan year, you have to calculate the buy or sell amount to be deducted from or added to employee pay, spread out over the remainder of the plan year. Enter this amount in the Vacation Benefits page.

In PeopleSoft Benefits Administration, the system calculates the per-pay-period amount based on the beginning of the plan year. If an employee buys or sells vacation at another time, you need to calculate the buy or sell amount to be deducted from or added to employee pay, spread out over the remainder of the plan year. Then override the amount calculated by the system on the Vacation Benefits page.

See Also

Setting Up Vacation Buy/Sell Plans

Setting Up Deduction Codes

Managing Leave Plans

Preparing for Open Enrollment and Event Maintenance

Reviewing Vacation Buy/Sell Calculation Results

This section describes how to:

• Review Leave Accrual processing status.

• View the number of vacation hours bought or sold.

See Also

Reviewing Enrollments and Benefit Calculations

Page Used to Review Vacation Buy/Sell Calculation Results

Reviewing Leave Accrual Processing Status

Access the Vacation Benefits page (Benefits, Enroll In Benefits, Vacation Benefits, Vacation Benefits).

When you enroll an employee, the system deselects the Vacation Accrual Processed check box. Vacation Accrual Processed is selected after payroll has been processed for the employee and the Leave Accrual process has been run.

Viewing the Number of Vacation Hours Bought or Sold

During the first payroll run for the employee after enrollment, PeopleSoft Payroll for North America creates other earnings data for the total vacation bought or sold hours. This data is used for accrual purposes.

You can view the other earnings data on the employee's paysheet in the Manage Payroll Process page. For example, if an employee sells 10 hours of vacation, Payroll for North America creates other earnings data to reflect the 10 hours, using the earnings code that you defined in the Vacation Buy/Sell Table for the vacation sell benefit plan.

Note. You can also see the total number of hours bought and sold using the Benefits Summary page.

See Also

Working with Paysheets