What is Banked Hours?
Find resources designed to help you get the most from Replicon
Banked Hours (also known as Time Off in Lieu) refers to hours worked over contracted hours but instead of receiving an overtime payment for these hours they are held (banked) to be taken as leave at a time in the future that is agreed between managers and individual staff.
Some employees may be allowed to bank overtime hours that they may later used to take a time off. You may have an option to choose to bank all of your overtime hours for a given timesheet period. If you have this option, a Bank Overtime Hours check box will display beneath your timesheet.