What is year-end adjustment in SAP PY-KR - South Korea?

SAP Term: year-end adjustment

• Component: PY-KR

• Component Name: South Korea

• Description: A process to calculate annual income tax amount and compare it with the 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.

Smart SAP Assistant

• Key Concepts: 
  Year-end adjustment is a process in SAP PY-KR South Korea that allows for the adjustment of payroll results at the end of the year. This process is used to ensure that all payroll results are accurate and up-to-date. It also allows for the correction of any errors that may have occurred during the payroll process. 
  
  How to use it: 
  To use the year-end adjustment process in SAP PY-KR South Korea, first you must enter the necessary 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 generate a report that shows any discrepancies between the payroll results and the actual results. 
  
  Tips & Tricks: 
  When running the year-end adjustment process in SAP PY-KR South Korea, it is important to double check all of the data entered into the system. This will help to ensure that all of the payroll results are accurate and up-to-date. Additionally, it is important to review the generated report carefully to identify any discrepancies or errors that may have occurred during the payroll process. 
  
  Related Information: 
  For more information on how to use the year-end adjustment process in SAP PY-KR South Korea, please refer to SAP’s official documentation on this topic. Additionally, there are many online resources available that provide detailed instructions on how to use this feature in SAP PY-KR South Korea.