I hope somebody can help with a definition/explanation here. So far it is clear to me that both relate to employees not being at work (on a day which could be a working day (as defined be the 'Working Schedule' [I guess]).
Seems that Allocations are more related to holidays (personal and public ones) and Leaves are more like Sick Leaves and someone wanting a day off ... to some extent this seems to be quite the same. Can someone help with a definition under what circumstances to use which of them?