Create Compensation Frequency  – A summary of the activity

Through this activity, you can define a conversion matrix, to make it possible for the system to convert from one unit of time to another. This requirement arises because of the different units of time used for specifying compensation frequency and rated frequency. By providing conversion factors, you can enable the system to equate the two units of time.

For example, an employee’s salary is fixed at $100 per Day, and he is paid once every month. When you specify that a month is equal to 30 days or 31 days, the system can calculate the employee’s salary for the number of days that he has attended.

At the start, you are to indicate the organization unit group for which this matrix must be assigned. Subsequently, you are to define a unique code and description to identify the matrix.

The various units of time, such as Hour, Day, Week, Bi-Week, Month and Year are arranged in a two-dimensional array. For each unit of time, you are to specify the separate conversion factor that will convert it into all the other units of time. Take Hour for instance: you can convert it to Day by specifying 8 hours, to Week by specifying 40 hours and Month by specifying 160 hours

•  After completing the matrix, you are to specify

• Whether the compensation frequency details  are applicable to all the organizational units within the group or only  to those to which the login user is attached or to selective Organizational Units.

• Whether each conversion in the matrix must be activated. If you specify “Yes”, the system will process the mapped organizational unit’s payrolls according to this activated conversion.

• If you want to make the details of the entire compensation frequency code applicable to selective organizational units, use the next page to search and map to the required organization units.

Getting familiar with the pages inside

Prerequisites 

The rated frequency types must have been defined in the quick codes.

What you can do in this activity

Define a compensation frequency

Define a compensation frequency

You can create a compensation frequency for a payroll general information unit and make it applicable to various organization units. Use the “Create Compensation Frequency “ page to define a new compensation frequency.

• Specify an unique code and description for the new compensation frequency.

•  Specify the rated frequency values

•  Save the details entered.

•  Map the compensation frequency details to required org. units.