PTO Accrual Formula

[tjacks]

Hello,

I am hoping to get help with a formula that can calculate PTO accrued by a specific date. For example, If I wanted to know how much PTO Jane will accrue by 11/16/2019, what is that amount based on how many hours Jane receives in a year.

Our current formula (below) doesn't work for anyone that begins employment within the calendar year. Can this easily be corrected?

=IF(YEAR($C$6)=YEAR(TODAY()),FLOOR.MATH((TODAY()-$C$6)/14)/(DAYS(DATE(YEAR(TODAY()),12,30),$C$6)/14)*$F$4,FLOOR.MATH(DAYS(B9,DATE(YEAR(TODAY()),1,0))/14)/26*$F$4)

C6 - Start Date
F4 - Total PTO for the year
B9 - Date to enter for result

 

[igold]

Wouldn't a better approach be, to take Jane's PTO accrual rate per pay period, determine the the number of full pay and fractional pay periods that fall between the employment start date and the future date, and multiply that by the accrual rate...

 

[tjacks]

Wouldn't a better approach be, to take Jane's PTO accrual rate per pay period, determine the the number of full pay and fractional pay periods that fall between the employment start date and the future date, and multiply that by the accrual rate...

Yes, that would be easier. It's just that the formula we have in place is not how we would calculate our accrual rate. It's more complex than we'd like as it factors in holidays in the calendar year and so on.