pretty common

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Note added at 1 hr 12 mins (2005-09-21 14:28:58 GMT)
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I could suggest LEAVE instead of holiday, or using both together, wich is not uncommon either, i.e.: Holiday Leave Records

I have never worked in HR, but have had to deal with them allways uderstood holiday as absence or leave, for whatever reason, paid or unpaid. When you sign a contract your holiday allocation is specified as such, and in benefuts you can usually find something that reads like this: '...25 days paid holiday leave, in addition to public/bank holidays'

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Note added at 1 hr 44 mins (2005-09-21 15:00:07 GMT)
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have a look at http://www.shireburn.com/pages/SPS

here's an extract relevant to your enquiry:

Leave Module - The options within the leave module allow the user to define entitlements for various user defined types of leave for each individual employee and subsequently post real time updates of leave transactions and balances on an individual basis, for a selected categorized group of employees or for a global basis for all employees in the company. This is useful for company shutdowns.
The Leave Modules allows posting of leave taken even on a daily basis if so desired avoiding having a backlog of data to post at month end, and the Payroll Calculation process will automatically take the leave data from the Leave Module for the calculation of a payroll. The system allows payrolls to be calculated taking into account one set of period dates for calculation of pay and a different set of period dates for the calculation of leave.

All leave transactions posted are validated for availability of adequate entitlements and for over allocation of leave for a user defined range of dates. All leave transactions are posted in hours for maximum flexibility but can be displayed/reported both in hours and also in days.

A public holiday calendar is available within the module which automatically warns the user if leave is allocated on any such holidays. Creation of a leave entry spanning a range of dates will automatically define the working day cycle of the employee and omit weekends and public holidays.

Sick leave benefits are automatically deducted from the relevant employee during the calculation of leave values for the relevant payroll period. Deductions of sickness/injury benefits after the first 3 days are handled automatically including taking into account continuation of benefit from one payroll to another.

An employee’s complete leave history is also directly accessible through his main employee record screen. The leave module provides comprehensive reporting functions including periodical leave accruals reporting and graphical representation of an employee's leave analysis. This allows for a greater analysis of the leave information.

[sorry about the typos in my note, I crashed as I was reviewing it, but somehow it got sent(?)]