What is 'cancellation' in SAP PA-EC - Enterprise Compensation Management?

cancellation - Overview

• Component: PA-EC

• Component Name: Enterprise Compensation Management

• Description: Awards can be cancelled if: A life event occurs New awards are issued The company undergoes a merger Awards that have been granted to the employee are - for a variety of reasons - taken back by the company.

cancellation - Details

• 
  Key Concepts: 
  Cancellation in SAP PA-EC Enterprise Compensation Management is the process of reversing a compensation transaction that has already been processed. This can be done for a variety of reasons, such as when an employee leaves the company or when a mistake has been made in the compensation calculation. 
  
  How to use it: 
  In order to cancel a compensation transaction, the user must first access the “Cancellation” tab in the PA-EC Enterprise Compensation Management module. From there, they can select the transaction they wish to cancel and enter the reason for cancellation. Once this is done, the transaction will be reversed and any associated payments will be removed from the employee’s account. 
  
  Tips & Tricks: 
  When cancelling a compensation transaction, it is important to ensure that all associated payments have been removed from the employee’s account. Additionally, it is important to document the reason for cancellation in order to ensure that any future transactions are processed correctly. 
  
  Related Information: 
  For more information on cancellation in SAP PA-EC Enterprise Compensation Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/PA_EC/7.0/en-US.