Overtime Conversion to Absence quota or Overtime hours compensation in payroll

Dears,

i have a requirement that need to implement a rule if employee completes 8 hours overtime, the employee has the right to decide whether to take this as 1 day absence quota or take these hours as money from payroll.

if employee doesn't take absence from that quota during the evaluation period , then it will be considered overtime

so if anyone have an idea how to implement that requirement please share it with me

Thanks in advance ,

Nashwa,