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Cost Item

Даваа гариг, 2017-02-13 03:38 он сар өдөр - ppatnaik хэрэглэгчийн нэр

Overview

A cost item is any element that can be used to predict and calculate future developments of organizational departments such as basic salary, vacation pay and full-time salaries at the assignment level. There are four information tabs at the bottom that further expand the capabilities of a cost item. The deductions tab lists the deduction and cost item relationship for a deduction calculation. A deduction can be viewed, added or deleted in this tab. The dependant tab represents cost items calculated on other cost items. For example, another expense can appear from producing an employee's salary. Each cost item, by law, may be associated with an income tax which will be recorded in the Income Tax tab within the Cost Item function. The last tab is Effective Date which manages all the different dates that document when the cost item will become effective.

 

Navigation

Human Capital ► Budgeting and forecasting ► Support Entities ► Cost Item

 

Cost Item screen Fields

Fields

Description

Code

Unique identifier for each record

Language

Select the language used  to register the description and name

Name

Name of the Cost Item.

Description

Long description of the Cost Item.

Sequence

This determines the order of calculation.

Type

Select from the Drop Down Menu the Type of Cost Item that users are creating.

Frequency

Use of Cost Item - Daily, Hourly etc.

Frequency based on

Initially it is Not Applicable. If selected, the Frequency can be modified.

Is Basic Salary

If checked, Cost Item is a Basic Salary earning. 

Is ProRated

If checked, Cost Item will be ProRated.  A ProRated Cost Item will be used mainly for a salary increase in the middle of a pay period or if an employee resigns in the middle of the month.

Is this limiting the Basic Cost Item

This is the reduction amount of a cost item in association with a specified effective date.

May this paid on different periods then the regular periods

If checked, this is paid on different periods.

Is this linked to a NON-Salary scale

When Frequency is DAILY or HOURLY, Non Salary Scale can not be selected. When Frequency is NOT DAILY or HOURLY, Non Salary Scale can be selected. If selected, extra fields in Cost Items will be mandatory to complete in order to specify which scale to use.

Is Statutory Holiday

Will be checked if Cost Item is a Statutory Holiday and will be used as a pay calculation. When selected, Is Limiting Regular will be selected and cannot be unselected.  Frequency will display DAILY when Is Statutory Holiday is selected.

Does this cost item have an effect on the pay

Default is true. It indicates if the cost item  affects the pay.

Inactive Date

By default, is null. Once a date is entered the Cost Item will no longer be available on and after that date.

Maximum value by calculation

It allows setting the maximum value for the cost calculation.

Should pay excess value

If checked then allows paying the excess value for the cost item.