Holiday funds are monetary funds accrued over time to cover the cost of employees' holidays. Read more >

You can use Sage 50 Payroll to set up different types of funds, deduct contributions from the employee's salary and pay the money out during the payroll run. Read more >

If an employee who has a holiday fund needs to change holiday scheme, you need to manually transfer the existing holiday fund balance to the new scheme.

1. On the Employee List, double-click the employee.
2. Click the Employment tab then click YTD Values.
3. Click the Other YTD tab then note the existing Holiday Fund amount.
4. Change the Holiday Fund amount to 0.00 then click OK.
5. Click Yes then click OK then click Save.
6. Click the Absence tab then click Holiday.
7. Assign the required scheme to the employee then enter the contribution values.
8. Click OK then click the Employment tab.
9. Click YTD Values then click the Other YTD tab.
10. Enter the amount noted earlier into Holiday Fund.
11. Click OK then click Save then click Close.