What is wage type group in SAP PY - Payroll?

SAP Term: wage type group

• Component: PY

• Component Name: Payroll

• Description: Grouping of wage types according to specific business criteria. Wage type groups are used to assign wage types to specific steps in Customizing. &EXAMPLE& Wage types that are entered in a particular intotype, for example wage type group Recurring Payments/Deductions Wage types that are used for a particular calculation, such as tax or social insurance, for example, wage type group Social Insurance.

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• Key Concepts: 
  A wage type group is a collection of wage types in the SAP Payroll system. Wage types are used to define the different types of earnings and deductions that are used to calculate an employee's net pay. Wage type groups are used to group related wage types together for easier management and reporting. 
  
  How to use it: 
  In SAP Payroll, wage type groups are used to group related wage types together. This allows for easier management and reporting of wages and deductions. Wage type groups can be created in the Customizing menu under the Payroll menu. Once created, wage types can be assigned to the wage type group. 
  
  Tips & Tricks: 
  When creating a wage type group, it is important to consider how the wage types will be used in the payroll process. This will help ensure that the correct wage types are assigned to the correct wage type group. Additionally, it is important to consider how the wage type group will be used for reporting purposes. 
  
  Related Information: 
  For more information on SAP Payroll and wage type groups, please refer to the SAP Help Portal or contact your local SAP consultant.