What is payroll period in SAP PY - Payroll?

SAP Term: payroll period

• Component: PY

• Component Name: Payroll

• Description: Period for which regular payroll is run. A payroll period is identified by a period number and payroll year. Example periods can be, for example, weekly, two-weekly or monthly. Depending on this, and other system settings, the payroll period 08 2000 could indicate: Monthly payroll periods: Month August Weekly payroll periods: Week from 13th to 19th February 2000

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• Key Concepts: 
  Payroll period is a time frame used to calculate payroll. It is the period of time for which an employee is paid. It is usually determined by the employer and can be weekly, bi-weekly, semi-monthly, or monthly. 
  
  How to use it: 
  In SAP Payroll, the payroll period is used to determine when payroll runs are executed and when employees are paid. The payroll period can be set up in the system and configured to meet the needs of the organization. 
  
  Tips & Tricks: 
  It is important to ensure that the payroll period is set up correctly in SAP Payroll so that employees are paid on time and accurately. It is also important to ensure that all payroll runs are completed within the payroll period so that employees are not overpaid or underpaid. 
  
  Related Information: 
  For more information on setting up and configuring payroll periods in SAP Payroll, please refer to the SAP Help documentation.