Each company follows a specific leave year for the purpose of granting leaves to employees and keeping track of all their leaves. A company can choose a leave year to be from January to December or April to March.
The leave year-end process refers to the annual activity where the HR or admin team reviews and updates all employees' leave balances at the end of the leave year.
As an admin or HR manager, you need to review and settle each employee’s leave account before the new leave year begins. This includes:
Carry forward unused leave balances (like Casual Leave or Earned Leave) to the next year if allowed.
Lapse leaves that are not eligible for carry forward.
Encash leaves if the policy allows (i.e., convert leave into money).
Reset the leave balance for the new year.
This ensures that all employee leave balances are accurately settled before the new leave year begins.
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