I used to have one at a previous employer. All you really need is something
that will add the overtime hours. Sick time can be tricky because some
employers handle it differently than others. The place where I worked
calculated the number of hours available per week and then accumulated them
throughout the year up to a set maximum. I don't remember exactly how it was
laid out but I remember that we either entered a 0 (if the employee was
there all week) or the number of hours missed. All I can remember is that it
would let us know how many hours the employee had accumulated.
You need to figure out exactly what you want to keep track of and how your
company calculates these hours.