Free Excel Vacation Accrual Calculator

Jawad Ahmad

By

Jawad Ahmad

Free Excel Vacation Accrual Calculator

Table of Contents

Do you track how many days of PTO (Paid Time Off) you have? Wondering if there is something like PTO Calculator or simple leaves tracking spreadsheet that can easily track Vacation and PTO vacation accrual like PTO Calculator? If yes, you are at the right site.

We offer Employee PTO Tracker Excel template. You can download this free PTO tracker in Excel to calculate and track employees’ PTO accrual balances.

Related Article: Resource Capacity Planner

Vacation Accrual Calculator

Introduction

Tracking employee time-off and vacation requests can be a bit difficult. But Vacation Accrual Calculator Excel Template helps track time-off and how much Vacation has availed, and how much is remaining. Also, it helps to prepare your repeated journal entries to expense vacation.

This free PTO Tracker Excel template is designed to calculate PTO balances based on the employee’s tenure. This Template is also helpful to track and monitor employee leaves for a financial year. Further, this Template is based on labor legislation and the company’s policy. But it is not limited to vacation days, maternity leaves, public holidays, sick days, or personal events.

Other possible situations of PTO are days related to the company’s culture, training and courses, and teambuilding. So if you want to manage all these situations by using a single spreadsheet for all employees, download this free Excel PTO Tracker.

Project Management 150 Templates Bundle Ad

Importance

There are many reasons to take a PTO calculator. Below are some points explaining the importance of having a Vacation Accrual Calculator Excel Template.

  • By using this Template, you can easily keep track PTO of your employees.
  • It helps you by giving visibility of how many holidays an employee is entitled to. And how much has been taken.
  • You can get a birds-eye view of which employee is off and when. In this way, you can focus on other important stuff.
  • PTO is an essential part of balancing fulfilling work life. By offering PTO to your employees you can show them up how much you care for their well-being.
  • Moreover, a PTO tracker gives your business one standard method for tracking and managing. Also by using this tracker you will never have to deal with non-compliant requests ever again.
  • Further, using this Template simplifies the process. And the employees can book time off from one portal. Also, they can access your PTO policy and can see how many days they are entitled to.
  • Moreover, HR and bosses can access and compare all time-off requests. And can approve and decline them quickly.
  • In some cases, manual PTO tracking can result in employees taking advantage of the system. But a PTO tracker can keep the tabs on the exact days an employee is entitled to. And an employee can take advantage of it.
  • Keeping all employees’ time off details in one system can end the hassle of scheduling and managing nightmares. In turn, the PTO tracker allows you to make the business plan quicker. You can also avoid mistakes and allow your team freedom to avail of the PTO whenever they choose.

When evaluating the pros and cons of adopting the PTO leave calculator, the pros come out on top. So why not try a PTO tacker?

Related Article: Recruitment Tracker Excel Template

Key Features of PTO Calculator

If you are looking for a Simple & Effective solution to calculate PTO for your employee, download this free Excel template to track and calculate employees’ PTO accrual balances. This employee vacation accrual template has:

  • Some settings are available to cover the most common business Paid-Time- Off policy scenarios.
  • This annual vacation calculator is very flexible and easy to modify for your individual business needs
  • This PTO accrual spreadsheet automatically calculates PTO balances for today and any upcoming date
  • In this PTO accrual template, you can enter vacation dates as date ranges
  • This Template is designed for only one employee. But, you can make a copy of the workbook to use for the second employee.
  • Moreover, it has customizable PTO types. You can easily add employees and visualize their situations.

How to Use PTO Calculator Excel Template

To use PTO Calculator quickly and effectively, you should follow the below points:

  • Download free PTO Tracker and rename it according to your company’s standards.
  • Open the worksheet and establish your company’s special and public holidays.
  • Also, introduce the calendar of the current year in the holiday worksheet.
  • Then in the worksheet, define your PTO types.
  • Enter inputs in the employee PTO sheet
  • At first, review the accrual window details and PTO Policy
  • Further, fix the data validation errors if any
  • Then, enter PTO information when an employee takes PTO
  • Finally, view balance trend and PTO

Related Article: Best Free Project Management Template Excel (XLS)

Explanation

In vacation accrual calculator excel, the first tab is the Employ Info tab. So, you must enter your employee info here. Moreover, the dark blue cells are locked. But you can replace the data in the table.

Also, you can add rows by typing the employee name in the next blank row. There is a short VBA code that, that shows you only the selected Month and hides all other months. This PTO accrual spreadsheet can track leaves for over a year.

For example, if you follow the May-June, select May 2021 as the starting Month. Further, you can specify the working and non-working days through this Template.

Also, there is functionality at the right side of the Template to determine the working days by selecting Yes from the drop-down. Similarly, if you choose NO, the day will be marked as a non-working day in the leave tracker.

As soon as you indicate the non-working days, those days will change their color to gray in the vacation and sick time tracking spreadsheet. You can update the holiday list in the spreadsheet as “Holiday List.”

The tracker will automatically reflect it in Orange Color. Also, if you need to enter the leave record for employees, use the related codes. Further, you can edit these codes.

For example, if you must enter Vacation, use V, use S, and so on in case of sick leave. Moving further, there are two more codes for half-leaves. So, you can enter H1 or H2 in this case.

Here is a version of the employee vacation planner template excel 2021. It can track leaves for 5o employees.

Components of PTO Policy

Though the PTO spreadsheet is simple to use, there are a few terms that you need to know. Also, some calculations happen while using this employee leave record format in excel.

Let’s start exploring them.

COMPONENTS OF PTO POLICY

Employee Name

Here comes the name of an employee for whom you will be tracking and calculating the PTO balance.

Hiring Date

Typically, a lot of calculations for vacation tracking depends on the Hiring Date of the employee. So, in this section, you have to enter the hire date. Because this Template will calculate the tenure from the hire date, and companies may have a tenure-based upturn in PTO.

PTO Unit

Further, you can track employee PTO in units of days or hours. So, if you choose hours, enter PTO in hours. And if you choose Days, enter PTO dates and ignore hours which an employee took.

Annual PTO Accrual Rate

Annual Accrual Rate is the PTO which an employee accumulates in one year. For example, a company may offer 110 hours of PTO per year.

PTO Accrual Period

This term shows how you accrue the annual PTO rate. If we take the above example again, how will the employee receive these 110 hours? So, we have six options: weekly, Every two weeks, Monthly, Twice a Month, Quarterly and annual.

Finally, 110 hours will be given to the employee at approx—9 hours each Month for 12 months. Don’t worry. You don’t have to remember all the calculations because we can use the PTO spreadsheet.

Twice a Month

For twice a month, you don’t need to provide the First Accrual Period Begin Date. But we enter two days. Then the employee leave record format in excel will take those days as the accrual days every Month. Further, you can select “Last Day” for the 2 nd day, and the PTO spreadsheet will automatically assign the last day for each Month.

Monthly

For monthly PTO, you don’t need to give the First Accrual Period Begin date. Instead, you will select a day of Month. Further, the options are -28 and Last day.

Related Article: Free Performance Improvement Plan Template

Annual PTO Rollover Policy

If an employee persists in accruing PTO every period, the balance keeps increasing, believing there are no vacations taken. Typically, companies don’t like employees to accrue a large balance. Because:

  1. Vacations allow an employee to maintain a healthy work-life balance.
  2. Companies have to pay a PTO balance when an employee leaves a company. So, a very high balance means cash out the door for the company. So usually, companies adopt a rollover policy. This policy determines how many hours of PTO an employee can carry over.

Probationary Period

In some roles, employees cant get any PTO for the first X number of days. For example, an employee can earn any PTO at the initial three months of employment. You can set this easily through vacation accrual calculator excel.

Maximum Allowed PTO Balance

The rollover limit only relates to the end of the year balance. You can set your limit on maximum balance at any time.

Accrual Rates Vary By Tenure

Companies only increase the annual accrual rates for those employees who stay with them for more years. So, you can handle these scenarios by setting the Annual Accrual rate at maximum PTO balance.

PTO Or Vacation Dates

If you are going to track PTO in hours, you have to enter the PTO hours column. And you can ignore it if the PTO unit is days. You should enter date ranges to enter multi-day Vacations. However, to add single day vacation, enter both starts the date as the same date.

PTO Balance

When we add PTO dates, the balances get updated automatically. And by default, the current PRO shows on the top. But, You can modify the date and can view the PTO balance of any date.

Similarly, the balance trend chart displays the date by default from the Hiring Date of the employee. And you can modify it as well.

PTO Adjustment

If you need to remove or add PTO, use the adjustment table outside the PTO policy settings. As it allows to add PTO balance or reduce from PTO balance. Prorating When Accrual Rates Change As you know, the accrual rates vary by employee tenure. If the work anniversary comes in the middle of the accrual window, you have to prorate the PTO accrues.

Related Article: Roles and Responsibilities Template Excel

Construction Project 50 Templates Bundle

Top 4 Frequently Asked Questions about Vacation Accrual Calculator

Since I have created this vacation tracker, I am receiving many emails and messages. So here is a refined version of the Template, which I have made due to your continuous feedback.

Here are the most repeated and common questions I have to get about the
Vacation Accrual or PTO Calculator Excel Template.

When I change the Month in the Template, the exiting leaves are reflected in the changed Month. Why is this so?


Well, this happens when using cell A1 to change the current Month. So it would be best if you used the arrow icons to change the months. And you need to use the A1 cell only to set the starting Month of the tracker. For example, if you feel like starting the calendar from April, make cell A1 value four. Now to move to March, use the triangle icons.
I tried downloading the Template, but it downloaded as zip.

So now how do I use it?

My team has fixed this issue, and now you can easily download Excel files directly.

Can some use his own leave codes in the Template?

Yes, you can change these codes in NX8:NX17 cells. Also, you need to indicate the name code in cells NL5:NU5. For instance, if you change the Work from Home leave code to X, change it in NR5.

I am to track multiple years of leaves. Do I have to create a new spreadsheet for each financial year?

Yes, this leave tracking calculator can only track leaves for one year period. You need to make a c copy for each year.

Finally, it was all about the “Free Excel Vacation Accrual Calculator”. Please do share your feedback in the comments section and keep visiting us to learn more about Project Management.