What is time wage in SAP PT - Personnel Time Management?

SAP Term: time wage

• Component: PT

• Component Name: Personnel Time Management

• Description: A type of remuneration in which the employee is paid for attending work irrespective of the amount the employee produces. A specified rate of pay is effected for each unit of time such as an hour or month.

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• Key Concepts: 
  Time wage is a type of wage calculation used in SAP Personnel Time Management (PT). It is based on the number of hours worked and the hourly rate of pay. The time wage calculation is used to determine the amount of wages an employee should receive for a given period of time. 
  
  How to use it: 
  In SAP PT, time wage is calculated by entering the employee's hourly rate of pay and the number of hours worked. The system then calculates the total wages due for that period. The wages can be paid out in a variety of ways, such as direct deposit or check. 
  
  Tips & Tricks: 
  When entering the employee's hourly rate of pay, make sure to enter it in the correct currency. Also, make sure to enter the correct number of hours worked for each period. This will ensure that the wages are calculated accurately. 
  
  Related Information: 
  Time wage is just one type of wage calculation used in SAP PT. Other types include piece rate, salary, and bonus payments. Additionally, SAP PT also allows for overtime calculations and other special payments.