Film Accounting Glossary
Vacation and holiday pay
What is vacation and holiday pay?
Also called V&H, or vacation and holiday.
Vacation and holiday pay (V&H) is a percentage added to union crew wages in lieu of taking paid time off, remitted with fringes rather than accrued as leave.
It is calculated on straight time and often on overtime as well depending on the agreement, so it scales with hours worked. Because it is a percentage of wages rather than a fixed amount, it is easy to omit from a budget's fringe build and material when it is.
Example
V&H as a percentage of wages, calculated on straight time and often on overtime too, scales with hours worked rather than headcount. It is a percentage, not a fixed amount, which is why it is so easy to omit from a fringe build and so material when it is.
Figures are illustrative, chosen to show the mechanics rather than to quote market rates.
Where you'll see it
Remitted with the union fringes in lieu of paid time off, rather than accrued as leave the way it would be outside production.
Common mistake
Omitting it from the fringe build because it is not thought of as a benefit. It is a percentage of wages, including overtime, and it adds up quickly.
Related questions
- How is vacation and holiday pay handled on a film?
- Remitted with the union fringes as a percentage of wages in lieu of paid time off, rather than accrued as leave the way it is outside production.
- Does vacation and holiday pay apply to overtime?
- In many agreements yes, so it scales with hours worked rather than with headcount, which is why it grows on a long-hours schedule.