What is expiry in SAP PA-EC - Enterprise Compensation Management?

SAP Term: expiry

• Component: PA-EC

• Component Name: Enterprise Compensation Management

• Description: Awards are said to have expired when an employee fails to exercise them before the expiration date.

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• Key Concepts: 
  Expiry in SAP PA-EC Enterprise Compensation Management is the process of setting a date on which a compensation plan or element will no longer be valid. This date is set when the plan or element is created and can be changed at any time. The expiry date is used to ensure that compensation plans and elements are not used beyond their intended duration. 
  
  How to use it: 
  When creating a new compensation plan or element, the user must specify an expiry date. This date can be changed at any time by the user. When the expiry date is reached, the plan or element will no longer be valid and cannot be used. 
  
  Tips & Tricks: 
  It is important to set an appropriate expiry date for each compensation plan or element. If the expiry date is too far in the future, it may be forgotten and the plan or element may remain active for longer than intended. If the expiry date is too soon, it may not give enough time for users to take advantage of the plan or element. 
  
  Related Information: 
  For more information on SAP PA-EC Enterprise Compensation Management, please refer to the official SAP documentation.