What is opening balance in SAP LOD-SF-EC - Employee Central?

SAP Term: opening balance

• Component: LOD-SF-EC

• Component Name: Employee Central

• Description: The accrual amount that is posted to an employee's time account when their prior service is recognized. Typically applies to long service leave in the Australian public sector.

Smart SAP Assistant

• Key Concepts: 
  Opening balance is a term used in SAP Employee Central to refer to the initial balance of an employee’s account. This balance is used to track the employee’s current account status and is updated as transactions are made. 
  
  How to use it: 
  The opening balance is set when an employee’s account is created and can be adjusted as needed. It is important to ensure that the opening balance is accurate, as it will be used to calculate the employee’s current account status. 
  
  Tips & Tricks: 
  It is important to keep track of the opening balance for each employee’s account, as this will help ensure that all transactions are accurately recorded and accounted for. Additionally, it is important to regularly review the opening balance to ensure that it is up-to-date and accurate. 
  
  Related Information: 
  The opening balance can be found in the Employee Central module of SAP. It can also be accessed through the SAP Fiori app, which provides a mobile-friendly interface for managing employee accounts. Additionally, there are various reports available in SAP that can be used to review and analyze the opening balances of employee accounts.