Time Off Plans
Time off plans are usually used for vacation plans, but they can be used in other ways too. Some companies choose to create different time off plans for employees that have been at the company for different amounts of time. For example, first year employees may get 2 weeks of time off per year, whereas anyone who's been at the company longer than one year gets 3 weeks of time off per year.
Time off plans automatically renew every year, month, or week, depending on the frequency you have specified for each plan. All plans are allocated a certain number of hours. We use hours instead of days to better accommodate partial day off requests. For each plan you can specify the Max Rollover amount which lets you control if unused hours can be rolled over to the next occurrence (e.g. at the end of the year, month, or week).
Time off plans can be created, edited, and deleted on the Admin/Time Off Plans page, as shown here:

Time off plans can be assigned to users via the Admin/Members page.
Individual employees can submit time off requests on their "My Settings" page. You can specify if time off requests require approval, or if they are automatically approved. This setting is global (i.e., the same for all employees), and is set on the Admin/Company Info page.