Vacation Pay balance is the total amount of vacation pay (in dollars) that a given employee has accrued either for the year or since they've been at the company minus the vacation pay they've used. This number ultimately represents the total Vacation pay liability the company owes for each employee.
If your employees are accruing Vacation Pay each period, you'll want to make sure you capture the total amount of accrued vacation and enter it into Humi Payroll before processing your first payroll. If your previous payroll provider has been tracking the Vacation pay balances for each employee, you should see the amounts listed on the paystubs.
If this is your first time tracking Vacation pay in money, you can determine this amount by following the steps outlined below: