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  #1  
Old 08-04-2005, 12:53 PM
MillieG MillieG is offline
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COMP time...

Does anyone have any creative ideas on how to track COMP time?
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  #2  
Old 08-22-2005, 01:05 PM
ACRCD ACRCD is offline
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Question

I am also looking for a way to track comp time other than an excel spreadsheet?
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Old 08-23-2005, 08:41 AM
knolan knolan is offline
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Just a thought - Maybe you can run a test of this -
How about tracking the "addition" and "deduction" as payroll items with a zero dollar value in the employee's record.
Add two payroll items - one as an addition - call it Reimbursement - Comp Time Owed. Add a second one as a Deduction (still Zero dollar value) Call it Reimburse Comp Time Taken - Each item should calculate based on quantity so you can enter comp hours received or taken in the Additions/Deductions section of the paycheck.
A liability account should be set up under your other payroll liability accounts (you will need it to set up the payroll item addition) - Because the value is always set to zero this account should always be zero.
You could then run a report on the payroll item, filter it for just those 2 payroll items, add to display quantity and if desired filter to a particular employee and you will see what they have put in to their comp time and what they have used. The report will show the dates of when the time was "banked" and when it was "used".
I am not a tax account so I would check your labor responsibilities on how much "comp" time you can process without properly taxing it.
Good Luck
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Old 08-25-2005, 03:24 PM
knolan knolan is offline
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Just an FYI - I ran a test of comp time being used as outlined above. - It worked - hope it will work for your requirement.
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  #5  
Old 03-15-2017, 07:20 AM
Mr Ken Mr Ken is offline
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Comp time follow up

I feel like I am missing a step. I have created everything as suggested for the Comp Time. Everytime I generate a paycheck it is either adding or deducting form the employees paycheck (as if it were earnings), depending if I add or subtract. I only want to capture the time for Comp Time earned and when used subtract it.
Additionally it is not showing in my "filtered" report however it does show in the balance sheet and Employee Earnings Report.
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  #6  
Old 03-16-2017, 01:04 PM
Mr Ken Mr Ken is offline
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Comp time follow up

Figured it out. We are creating a sick bank (seperate from QB's built in Sick and Vacation modules). Similar to doing Comp Time. Created a payroll item called Sick Bank Accrual (positive) and Sick Bank Used (negative) and gave each one a "rate" of $1.00. When inputting payroll we create the offset as to not affect the individuals earnings and having an assigned $ value we can track YTD amounts for select employees. Our internal policy is any individual who has reached their maximum Sick Hours can now contribute to their Sick Bank.

The impetus for this was long term illness or care for a family member with having a mechanism to repay the company. Our pecking order is Sick Time, Vacation Time and then Sick Bank.
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Old 03-16-2017, 03:09 PM
Lorin Browning Lorin Browning is offline
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Be careful. The following is from: http://www.workplacefairness.org/comp-time#4
You may be familiar with the term "comp time," which refers to the practice of allowing an employee to take extra time off from work after a long week, instead of being paid overtime wages. What you may not know, however, that in most situations, the practice is illegal, if you are working for a private, non-governmental employer, and you are a "non-exempt" employee otherwise eligible for overtime pay.
For example, if you work 56 hours in a week and you are told that you can have two eight-hour days off in some other week to offset the extra 16 hours, this is probably a violation of the law. You are supposed to be paid overtime for the 16 hours you worked in the first week

Of course there are some exceptions to the overtime rule.

On May 18, 2016 The U.S. Department of Labor released its final rule regarding the changes to the overtime threshold for the Fair Labor Standards Act.

Among other things, the Department has doubled the minimum salary needed to qualify for these exemptions, from the previous level of $455 a week (or $23,660 a year) to $913 a week (or $47,476 a year), with increases every three years thereafter.
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Last edited by Lorin Browning; 03-17-2017 at 11:34 AM.
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