By reconciling the leave balances at the end of the year, employers can ensure that employees have used their allotted time off and that any unused leave is properly accounted for. This can help avoid disputes over unused leave and ensure that employees are properly compensated.
To do the year-end processing on Keka, Navigate to Time Attend (1), and then go to Leave (2).
Under Leave Plans (3), select the relevant leave plan from the left pane and go to the Year End Processing (4) section. Here you will find the option to Begin Year End Process (5).
In the window that opens up, the first section is Pending Leave Request. Here you must take action for the pending leave requests from the employees of this leave plan.
You can either take action on each request one by one, or you can select multiple requests and bulk approve or reject them.
Once there are no more pending requests in this section, you can click Next to proceed to the Leave Balance Actions section.
In this section, you have to verify the leave balances calculated by the system as per the leave plan setting.
This list can be filtered according to leave types or you can also search for any particular employee.
In case you wish to edit Days Encashed or Days Carried Forward, you can click the Edit icon next to the number and do so.
Once you have edited and verified the data on this section, click Next to proceed to the Enchasment Settings section.
Here, you can see how many unused leaves are being encashed and the system will automatically calculate the amount based on the formula provided for leave encashment in the payroll.
If you want to change the Total Amount to be Paid, you can click on the edit icon (1) beside the amount and type in the amount. You can also change the Leave Encashment Policy and the Encashment Month, i.e., the month in which the leave encashment will be paid.
You can also select multiple employees and modify their Leave Encashment Policy and Encashment Month at once.
Once you are satisfied with all the details, click Finalize.
Now you can view the result of the processing by clicking View Processing Results, under the Year End processing section only.
We hope this article was helpful to you. And if that is the case, do leave a 'thumbs up' below!