It's the Time off awarded to employees in lieu of overtime. Banked time is allotted at the overtime rate (or pay code) specified in the user’s overtime rule. Time can be banked automatically, based on selected conditions in the user’s overtime rule, or it can be user banked, if the user is granted Choice to bank time if possible permission.
In order to restrict the use of Banked OT hours, we can create a Time Off policy under Banked Time Off type. This can used to limit the total number of hours employees can bank using the Maximum Balance option as shown in the screenshot below:-
Log into Replicon.
Click on the Administration tab in the top menu.
Go to Users > Click on the required user.
Go to Time Off > Banked Time Off type.
Click on Create Policy and set the Starting Balance, Maximum Balance as required.