What is statistical time account in SAP SRD-HR-TM - Time Management?

SAP Term: statistical time account

• Component: SRD-HR-TM

• Component Name: Time Management

• Description: A category to which a time account can be assigned. Statistical time accounts serve multiple purposes. They can be used as counters, for example, to track statistical totals and to summarize time-related key figures, or for reporting purposes.

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• Key Concepts: 
  Statistical time accounts are a type of time account in SAP Time Management. They are used to store the total amount of time that an employee has worked, such as overtime or vacation time. This information is then used to calculate the employee's wages and other benefits. 
  
  How to use it: 
  Statistical time accounts are created in SAP Time Management and can be accessed by the employee or their manager. The total amount of time worked is entered into the account and can be used to calculate wages and other benefits. The account can also be used to track the employee's attendance and leave records. 
  
  Tips & Tricks: 
  It is important to keep track of the total amount of time worked in a statistical time account, as this information is used to calculate wages and other benefits. It is also important to ensure that the information entered into the account is accurate, as any discrepancies could lead to incorrect calculations. 
  
  Related Information: 
  For more information on statistical time accounts, please refer to SAP's documentation on Time Management. Additionally, there are many online resources available that provide detailed instructions on how to use SAP Time Management.