What is 'year-end adjustment' in SAP PY-JP - Japan?

year-end adjustment - Overview

• Component: PY-JP

• Component Name: Japan

• Description: A process to calculate annual income tax amount and compare it with the total of income tax withheld from an employee's payment during the year. If there is difference, the amount is deducted or refunded to the employee so that the amount of income tax deducted from the employee is equal to the calculated annual income tax amount.

year-end adjustment - Details

• 
  Key Concepts: 
  Year-end adjustment is a process in SAP PY-JP Japan Payroll that allows for the adjustment of payroll data at the end of the fiscal year. This process is used to ensure that payroll data is accurate and up-to-date. It also helps to ensure that payroll taxes are correctly calculated and paid. 
  
  How to use it: 
  To use the year-end adjustment process in SAP PY-JP Japan Payroll, first you must enter the necessary payroll data into the system. This includes employee information, salary information, and any other relevant data. Once this is done, you can then run the year-end adjustment process. This will calculate any necessary adjustments to the payroll data and update it accordingly. 
  
  Tips & Tricks: 
  When running the year-end adjustment process in SAP PY-JP Japan Payroll, it is important to double check all of the data entered into the system before running the process. This will help to ensure that all of the necessary adjustments are made correctly and that no errors occur during the process. 
  
  Related Information: 
  For more information on how to use the year-end adjustment process in SAP PY-JP Japan Payroll, please refer to the official SAP documentation or contact your local SAP support team.