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MissNadine
 
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Default Vacation Accrual Formula


OK, I actually created this formula several years ago at my old job but
since I am no longer there, I have no access to it. My boss helped me
with it and I just can't remember the formula.

Basically, I need to create a spreadsheet showing number of accumulated
vacation days for an employee based on the number of days they accrue
per day per year.
Here is the pertinent information - all I remember from the last time I
had to deal with this formula.
We created a formula that basically used the current date (of the day
you actually accessed the spreadsheet) to calculate the number of days
(with like 2 decimal places) the employee had accrued to date.

This is the info we used to generate the number:

Anniversary date
Days accrued for year 1, 2, 3, 4, 5+
Year one - 5 days
Year two - 5 days
Year three - 10 days
Year four - 10 days
Year five and each year thereafter - 15 days

Accrual rate for each year:

Year one: .01369 days per day
Year two: .01369 days per day
Year three: .02739 days per day
Year four: .02739 days per day
Year five and on: .04109 days per day

Also taking in consideration that any days not used the previous year,
roll over to the next year.

For example, employee one has an anniversary date of 7/1/2003. As of
7/1/2005 there are no days accrued because they all have been used so
I'm starting from zero. To date, there have been 48 days since her
anniversary date, therefore, she has accrued 1.31 days to date. It
takes approximately 36.5 days to accrue 1 vacation day.

can someone please help me with this?

Thanks
Nadine


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