What is Posting and Closing in SAP SRD-HR-PAY - HCM-Payroll Processing?

SAP Term: Posting and Closing

• Component: SRD-HR-PAY

• Component Name: HCM-Payroll Processing

• Description: A process where the payroll posting data from the payroll provider is downloaded into an excel template. This is normally performed by the payroll administrator. The template is then used to upload this posting data to General Ledger. After successful upload, the administrator closes the payroll period to prepare payroll for the next payroll run.

Smart SAP Assistant

• Key Concepts: 
  Posting and Closing is a process in SAP HCM-Payroll Processing that allows for the transfer of payroll data from the payroll system to the accounting system. This process is used to ensure that all payroll data is accurately recorded and accounted for in the accounting system. 
  
  How to use it: 
  Posting and Closing is done by running a program in SAP HCM-Payroll Processing. This program will transfer all payroll data from the payroll system to the accounting system. The program will also check for any errors or discrepancies in the data before it is transferred. Once the program has been run, the payroll data will be posted to the accounting system and the payroll period will be closed. 
  
  Tips & Tricks: 
  It is important to ensure that all payroll data is accurate before running the Posting and Closing program. This can be done by running a payroll simulation or a test run of the program before running it for real. This will help to ensure that all data is accurate and that there are no errors or discrepancies in the data before it is transferred. 
  
  Related Information: 
  Posting and Closing is an important part of SAP HCM-Payroll Processing and should be done regularly to ensure that all payroll data is accurately recorded and accounted for in the accounting system. It is also important to ensure that all payroll data is accurate before running the Posting and Closing program, as any errors or discrepancies could lead to incorrect postings in the accounting system.