FreeBalance Accountability Suite
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Overview:
At the end of the year, the user needs to create new pay periods in Human Capital Pay Period for each pay code in the system. Some pay codes have 52 pay periods because employees get paid on a weekly basis, this means that we need to make 52 new entries for that one pay code every year. This procedure would generate the same pay periods for the new fiscal year based on the ones from last year. It will only generate pay periods for the pay codes where isActive=TRUE.
Navigation:
Human Capital ► Budgeting and forecasting ► Support Entities ► Generate Pay Periods
Generate Pay Period:
| Fields | Description |
| Generate based on Fiscal Year | Fiscal year from the pay periods will generate |
| Generated in fiscal year | Fiscal year where the pay periods needs to generate. |
Overlap
It is possible that the last Pay Period of the current fiscal year (2018) overlaps to the next pay period of the next fiscal year (2019). Once an overlap is identified, the 1st Pay Period of a Fiscal Year will be a copy of the last Pay Period of the previous Fiscal Year.
Note: For pay periods with bi-weekly frequency, the number of pay periods might be 27, including the pay period that overlaps. Verify that you are in the new fiscal year (e.g. 2019-2020) to generate the pay periods.