What do various time off terms mean. Time off tracking terminology:

Time off policy: A policy encompasses everything related to time off: company holidays, time off types, rules, etc. Policies are assigned to employees. An employee can only be assigned to one policy at a time.

Time off type: A type is a specific reason employees can book time off for. E.g. "Holiday", "Sick day", "Personal Leave", etc. 

Accrual year: Also known as "Holiday Year". This is the yearly cycle that employees earn time off in. You can choose how to handle transitions between years (limit carry-over, reset to zero, etc...)

Accrual period: This is how often employees accrue time off. You can set it to Weekly, Monthly, or Yearly.

Allowance: The total amount of time an employee can take off, measured in days, every accrual period. This excludes Company Holidays.

Balance: The amount of time an employee has remaining in the current accrual year.

Starting balance: The amount of time off that employees receive when they first sign in to Air. This can be used to adjust for already taken time, in case you start using Air in the middle of a holiday year. You can set starting balance when adding employees to Air.

Carry-over: The amount of time off employees can take from one accrual year to the next.

Annual reset: If this setting is enabled employee balances would reset to zero at the start of the accrual year. 

Waiting period: How long after an employees start date before they can request time off.

Company holidays: Also known as "Bank Holidays" or "Statutory Holidays".

Time off request: When an employee books time off of any kind (e.g. Holiday or Sick day).

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