Carry Forward
The practice of transferring or carrying over unused or unutilized amounts or quantities from one period to another is known as carry forward. It is frequently used in relation to employee benefits or allowances. The goal of carry forward is to make sure that employees don’t lose any benefits they didn’t use and can use them again.
Unused vacation or annual leave days are a typical illustration of carry forward. Employees can carry over a predetermined number of unused leave days from one year to the next at many businesses. Employees can save their leave days to use later, such as for extended vacations or when they need time off during busy times.
Financial issues like budget allocations can also be carried forward. In budget planning, for instance, projects or departments may receive a specific amount of money for a specific time. These funds may be carried over to the following period or fiscal year if they are not used up completely within that time frame. This makes it possible to better manage resources and makes sure that money that hasn’t been used isn’t lost and can be used for future needs.