What is bonus calculation module in SAP FS-PM - Policy Management?

SAP Term: bonus calculation module

• Component: FS-PM

• Component Name: Policy Management

• Description: Elementary product calculation module that contains the share of a life insurance policy that is converted from a dividend to a higher sum insured.

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• Key Concepts: 
  The bonus calculation module is a component of the FS-PM Policy Management system in SAP. It is used to calculate bonuses for employees based on their performance. The module allows for the creation of bonus plans, which define the criteria for calculating bonuses, such as salary, job title, and performance ratings. The module also allows for the customization of bonus plans to meet the specific needs of an organization. 
  
  How to use it: 
  The bonus calculation module can be accessed through the FS-PM Policy Management system in SAP. Once accessed, users can create a bonus plan by defining the criteria for calculating bonuses. This includes setting salary ranges, job titles, and performance ratings. Once the criteria have been set, users can then customize the bonus plan to meet their specific needs. 
  
  Tips & Tricks: 
  When creating a bonus plan, it is important to consider the needs of the organization and its employees. It is also important to ensure that the criteria used for calculating bonuses are fair and equitable. Additionally, it is important to review and update bonus plans regularly to ensure they remain relevant and up-to-date. 
  
  Related Information: 
  For more information on the bonus calculation module in SAP, please refer to the official SAP documentation at https://help.sap.com/viewer/product/FS-PM_POLICY_MANAGEMENT/latest/en-US.