These advance software are often loaded with different modules when you need to enter the details once only and rest of the calculation and adjustments will be done by the software itself in an easy way.
You can go for SaralPayroll software that comes with leave management module and other modules like attendance, employee management etc. that can help you. Initially you can try its free or trial version to check this.
If you are doing payroll LOP will be deducted from working days
if you are stating leave balance lop need not be deducted from leave quota
if you are presenting a report to a manager lop must be included in the list of leaves taken
so the answer is yes in some contexts and no in others.