Types of leave cycle basis

A leave cycle is the 12 month period on which time off is calculated and granted to employees in accordance with their employment contract. There are 2 types of leave cycle to choose from:
Leave cycle Description Renewal
 Fiscal   year   1. Calendar year
 Follows standard calendar, starting from
 1st January - 31st December for all employees

 2. Custom year
 Follows custom 12 month period you select,   starting on the same date for all employees
 Example: 1st September - 31 August
 The leave cycle will begin on the 1st of the   calendar month
 Join   date   Follows custom 12 month period, starting on   the join date for each employee
 Example: 10th September - 9th September
 The leave cycle is determined by an   employee's join date and will be refreshed   according to his/her work anniversary date
Fiscal year:
Join date:
Swingvy tip: 
1. Every leave policy will require a separate leave settings
2. All leave balances will be renewed when the new cycle begins
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