What is social balance in SAP PY - Payroll?

SAP Term: social balance

• Component: PY

• Component Name: Payroll

• Description: A document prepared once a year by employers which serves as an information tool, a negotiation device, and a planning and management instrument for use in social and human resources areas. The document contains information about a company's social situation and highlights the strengths and weaknesses of human resources management, the efficiency level of social investments, and the action programs that have led to the professional fulfillment of employees, their identification with their company, and other personal social benefits.

Smart SAP Assistant

• Key Concepts: 
  Social balance is a feature of the SAP Payroll (PY) component that allows employers to track and manage their employees’ social security contributions. It helps employers to ensure that they are compliant with local regulations and that their employees’ social security contributions are properly accounted for. 
  
  How to use it: 
  The social balance feature of the SAP Payroll component can be used to track and manage employee social security contributions. It allows employers to view the total amount of contributions made by each employee, as well as the total amount of contributions made by the company. It also allows employers to view the current balance of each employee’s social security account. 
  
  Tips & Tricks: 
  When using the social balance feature of the SAP Payroll component, it is important to ensure that all employee contributions are properly accounted for. Employers should also ensure that they are compliant with local regulations regarding social security contributions. 
  
  Related Information: 
  For more information about the social balance feature of the SAP Payroll component, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information about how to use this feature.