A tool designed for employees paid on a bi-weekly basis helps calculate accrued paid time off (PTO). It typically requires inputting the employee’s PTO accrual rate, hours worked per pay period, and any existing PTO balance. For example, an employee accruing 8 hours of PTO per pay period, working 80 hours, and having a current balance of 40 hours would use such a tool to determine their updated PTO balance after the pay period.
Accurate PTO tracking is essential for both employees and employers. For employees, it provides clarity regarding available time off for vacation, sick leave, or personal reasons, empowering them to plan accordingly. For employers, precise PTO management streamlines payroll processes, ensures compliance with labor regulations, and promotes transparency within the workplace. Historically, PTO calculations were often performed manually, but automated tools have simplified this process significantly, reducing errors and saving time.
