What is period-end processing in SAP (SRD-HR-TM - Time Management)?

SAP Term: period-end processing

• Component: SRD-HR-TM

• Component Name: Time Management

• Description: A rule that enables the system to regularly check and process for example, forfeit, carryover to the next period, or payout the remaining balance of a time account. The period end rule is evaluated on the regularly occurring period-end processing date.

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• Key Concepts: 
  Period-end processing is a feature of SAP Time Management that allows users to close out a period of time in order to start a new one. This process involves running a series of reports and tasks that ensure the accuracy of the data in the system. It also helps to ensure that all relevant information is up-to-date and ready for the next period.
  
  How to use it: 
  To use period-end processing, users must first select the period they wish to close out. This can be done by navigating to the “Periods” tab in SAP Time Management. Once the period has been selected, users can then run the period-end processing report. This report will generate a list of tasks that must be completed in order to close out the period. These tasks may include running payroll, updating employee records, and other related tasks. Once all tasks have been completed, users can then close out the period and start a new one.
  
  Tips & Tricks: 
  It is important to remember that period-end processing should only be done once all relevant information has been updated and verified. Additionally, it is important to ensure that all tasks associated with closing out a period have been completed before proceeding with the process. This will help to ensure that all data is accurate and up-to-date for the next period.
  
  Related Information: 
  For more information on period-end processing in SAP Time Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SRD_HR_TM/latest/en-US/f9f8d7a2b3e14c8a9f3d7c2b6f5e4d1a.html