Open New Benefit Year Utility

Use the Open New Benefit Year utility to start tracking time earned and taken for a new benefit year. You can have only one active benefit accrual year. You cannot have different active benefit years for different employees.

When you open a new benefit accrual year, Vision zeroes out all year-to-date accrual totals for all employees. This process includes year-to-date hours earned and taken. The current year's ending balance for a benefit plan becomes the starting balance for the new year. This initialization procedure affects benefit accrual data only; it does not affect any other Vision data.

To determine starting balances for the new benefit year, Vision checks the following Benefit Accrual Setup settings:

• Pre-accrue hours — If you apply this option to a benefit plan, Vision accrues the full number of hours for the benefit year when you open a new benefit year.
• Carry over Limit — This option allows you to enter the maximum number of hours that can be carried over into a new accrual year for a particular benefit plan. When an employee reaches this maximum, Vision no longer accrues hours for this benefit plan for this employee.

When you open a new benefit accrual year, Vision records the opening of the benefit accrual year on the Posting Log Review report. The entry displays as an AL transaction type, to indicate that it is an audit log posting.

If you are using the Multicompany feature, you open a new benefit year for the active company. If you have the same benefit code set up for more than one company, when you run the Open New Benefit Year utility, the pre-accrual will run for the active company only.