The Time Off Monetization feature allows workers to convert eligible time off hours into cash as part of their net pay.

To use this feature, the following requirements must be met:

1. Net Pay must be enabled - Time Off Monetization is part of the Net Pay Feature.
    
2. Time Off Accrual must be turned on - Workers need to be accruing time off to monetize it.
    
3. The worker must be assigned to a Time Off Policy that includes at least one entitlement marked as eligible for monetization.
    

Once these conditions are met, eligible time off can be monetized and included in the worker’s pay.

Set Up

Step 1: Go to the Fareclock Admin Console and go to Settings. Under ‘Settings’ find and click ‘Payroll’.

Step 2: Click the ‘Net Pay Settings’ tab above.

Step 3: Enable time off monetization on the organization and configure thresholds per year.

Step 4: Enable time off monetization per time off entitlement.

Step 5: Monetize time off per worker on a DRAFT pay run.

Report

Go to Reports > Time Off Monetization to view the report.

Customize the column based on your report needs.