What is regular payments in SAP PY - Payroll?

SAP Term: regular payments

• Component: PY

• Component Name: Payroll

• Description: In accordance with German social insurance and tax law, regular payments are payments which can be assigned to their exact periods of origin. They include all types of payments which are effected on a regular basis, such as salaries, wages, pensions and overtime payments, for the customary remuneration periods, such as a week or month.

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• Key Concepts: 
  Regular payments are payments made to employees on a regular basis, such as salaries, wages, bonuses, and other forms of compensation. In SAP Payroll (PY), regular payments are managed through the payroll process. This includes calculating the amount of the payment, deducting taxes and other deductions, and then transferring the net amount to the employee's bank account. 
  
  How to use it: 
  In SAP Payroll (PY), regular payments are managed through the payroll process. This includes setting up the payment type, setting up the payment rules, and then running the payroll process. The payroll process will calculate the amount of the payment, deduct taxes and other deductions, and then transfer the net amount to the employee's bank account. 
  
  Tips & Tricks: 
  When setting up regular payments in SAP Payroll (PY), it is important to ensure that all relevant information is entered correctly. This includes setting up the payment type, setting up the payment rules, and entering any relevant deductions or taxes. It is also important to ensure that all relevant information is updated regularly to ensure accuracy. 
  
  Related Information: 
  For more information on managing regular payments in SAP Payroll (PY), please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for managing regular payments in SAP Payroll (PY).