Anniversary Year Plan Enhancement

You can now configure absence plans with anniversary year plan term and monthly incremental periods to post accruals on the anniversary date each month. Previously, the application used to post accruals either on the first of each month or on the last day of the month. With the new enhancement, the monthly period starts on the hire date and ends on a day before the hire date of the next month.

To configure the absence plan to post accruals on the anniversary date each month, you need to select the Monthly Anniversary Date option in the Balance Frequency Source field of the absence plan setup page.

Balance Frequency Source field in the absence plan setup page

Configure absence plans with anniversary year plan term and monthly incremental periods to post accruals on the anniversary date each month.

Steps to Enable

You don't need to do anything to enable this feature.