Lesson 3.5 Activity
- Determine Your Policy Structure: Review your employee handbook. Determine if your nonprofit tracks Vacation and Sick time separately, or if you use a combined PTO policy (meaning you will only use the Vacation fields in FastFund).
- Calculate Your Factor/Amount: Pick one employee’s time-off benefit (e.g., 80 hours per year). Calculate their Fixed Amount (80 ÷ your annual pay periods) and their Accrual Factor (80 ÷ annual pay periods ÷ hours per pay period).
- Verify Carryover Rules: Review your organization’s “use-it-or-lose-it” policy. Because FastFund automatically carries balances forward into the new calendar year, make a note that your HR or payroll administrator will need to manually adjust beginning balances in January if employee hours are supposed to reset or be capped.