There are two possible scenarios which can occur:
- Leave encashment is already defined in the leave policy with the relevant payroll component. In this scenario, you need not bother and leave encashment will be automatically processed. At the time of leave year ending, the system will post an encashment transaction wherein payroll will fetch this data, and process encashment as well in the concerned payroll month.
- You have just modified the year end policy with encashment provision. When there is a year end policy change during year end process, the system will post an encashment transaction. However, you may not have envisaged a relevant component in the payroll and hence not defined it in the payroll. So, there is a lapse in the payroll data. Create a support ticket and Greytip will assist with this.