What is lump sum in SAP LOD-SF-EC - Employee Central?

SAP Term: lump sum

• Component: LOD-SF-EC

• Component Name: Employee Central

• Description: A single amount of money that serves as complete payment of, for example, an employee's bonus.

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• Key Concepts: 
  Lump sum is a type of payment in SAP Employee Central that is used to pay a fixed amount of money to an employee for a specific purpose. This type of payment is typically used for one-time payments such as bonuses, reimbursements, or other special payments. 
  
  How to use it: 
  In SAP Employee Central, lump sum payments can be created and managed in the “Payroll” tab. To create a lump sum payment, select the “Create Lump Sum Payment” option from the drop-down menu. Enter the employee’s name, the amount of the payment, and any additional information needed. Once the payment is created, it can be processed and paid out to the employee. 
  
  Tips & Tricks: 
  When creating a lump sum payment, make sure to enter all relevant information accurately. This will ensure that the payment is processed correctly and that the employee receives the correct amount. Additionally, it is important to keep track of all lump sum payments made so that they can be reconciled with payroll records. 
  
  Related Information: 
  For more information on how to use lump sum payments in SAP Employee Central, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_EMPLOYEE_CENTRAL/1711/en-US/f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9f3d7f9a8b2e14c8a9