What is time valuation in SAP LOD-SF-EC - Employee Central?

SAP Term: time valuation

• Component: LOD-SF-EC

• Component Name: Employee Central

• Description: A generic object that specifies how to calculate time valuation results on a daily or weekly basis. A time valuation bundles time type groups for input of time data and output of calculated times and processing instructions how to calculate these times from the time data coming from the input time type groups.

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• Key Concepts: 
  Time Valuation is a feature of SAP’s Employee Central module that allows companies to accurately track and manage employee time. It enables companies to record and track employee hours, overtime, and absences, as well as calculate wages and other benefits. It also allows for the creation of custom time rules and the ability to set up different pay periods. 
  
  How to Use it: 
  Time Valuation can be used to track employee hours, overtime, and absences. It can also be used to calculate wages and other benefits. Companies can create custom time rules and set up different pay periods. Additionally, it can be used to generate reports on employee time and attendance. 
  
  Tips & Tricks: 
  When setting up Time Valuation, it is important to ensure that all of the necessary information is entered correctly. This includes employee information, pay rates, overtime rules, and any other relevant data. Additionally, it is important to regularly review the data entered into Time Valuation to ensure accuracy. 
  
  Related Information: 
  Time Valuation is part of SAP’s Employee Central module. Other features of this module include payroll processing, benefits administration, and workforce analytics. Additionally, there are a number of third-party applications that integrate with Employee Central to provide additional functionality.