What is period closure in SAP SRD-HR-TM - Time Management?

SAP Term: period closure

• Component: SRD-HR-TM

• Component Name: Time Management

• Description: The valuation of all new or changed time data in a period close.

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• Key Concepts: 
  Period closure is a process in SAP SRD-HR-TM Time Management that allows users to close a period of time in order to prevent any further changes to the data. This process is used to ensure that all data is accurate and up-to-date before the start of a new period. 
  
  How to use it: 
  To use period closure, users must first select the period they wish to close. This can be done by navigating to the “Periods” tab in the SAP SRD-HR-TM Time Management module. Once the desired period has been selected, users can then click on the “Close Period” button. This will initiate the period closure process and prevent any further changes from being made to the data within that period. 
  
  Tips & Tricks: 
  It is important to remember that once a period has been closed, it cannot be reopened. Therefore, it is important to double check all data before closing a period in order to ensure accuracy. Additionally, it is recommended that users back up their data before closing a period in case any changes need to be made after the fact. 
  
  Related Information: 
  For more information on period closure in SAP SRD-HR-TM Time Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SRD_HR_TM/latest/en-US/f9f8d7a2b3e14c8a9f3d7c2b6f5e4d1a.html