What is recurring payments/deductions in SAP PY - Payroll?

SAP Term: recurring payments/deductions

• Component: PY

• Component Name: Payroll

• Description: Payments made by employer to employee in several successive payroll periods. Each payment can be assigned to a specific payroll period. Unlike one-off payments and deductions, a period from date - to date can be entered for recurring payments and deductions. &EXAMPLE& Employer's contribution to capital formation payments Employer's contribution to pension insurance

Smart SAP Assistant

• Key Concepts: 
  Recurring payments/deductions are a feature of SAP Payroll (PY) that allows for the automatic deduction of certain payments or deductions from an employee’s salary. This feature is useful for deductions such as taxes, insurance premiums, and other regular payments. 
  
  How to use it: 
  To use this feature, you must first set up the payment/deduction in the payroll system. This includes entering the amount to be deducted, the frequency of the deduction, and any other relevant information. Once this is done, the system will automatically deduct the payment/deduction from the employee’s salary on a regular basis. 
  
  Tips & Tricks: 
  It is important to ensure that all payments/deductions are set up correctly in order to avoid any errors or discrepancies. Additionally, it is important to keep track of any changes in the payment/deduction amounts or frequencies in order to ensure accuracy. 
  
  Related Information: 
  For more information on setting up recurring payments/deductions in SAP Payroll (PY), please refer to the official SAP documentation.