Pay Periods Tab | v7 FreeBalance Help

Pay Periods Tab

Fri, 2019-05-17 05:05 — vdharwadkar

Overview

This entity allows the user to set up the periods that a pay code applies. This is the catalog entity that must be configured to handle the Pay Periods.

Pay Periods Tab Screen Fields

Fields	Description
Sequence	This is manually entered by the user. This is to decide the order of pay periods will be calculated. This is not necessarily a unique number. Many of the records can have 1 and many can have 2
Fiscal Year	Fiscal year the pay period belongs to.
Status	To indicate if the period is Open or Closed. When the Deadline for Payroll is reached, system will execute the Payroll calculation Process and, in that process, system will change de value for this field. If this field = "Closed" no transactions can be recorded for this Pay Period. Only one record can be = "Open" in a Fiscal Year at a time per Pay Code. Default value = "Not Processed".
Rate Date for Estimated Payroll	Date estimated to generate the estimated payroll. User defined.
Date for Collections Payroll	Date estimated to generate the collection payroll. User defined.
Deadline for Payroll	Last day the payroll most be paid. User defined.
From Date	Start date of the period. User defined.
To Date	End date of the Period. User defined.
Language	Required language can be selected to register the description.
Period Name	User defined name of the period.
Pay Period Institution tab	List of Institutions to be processed in the collection Payroll.

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