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

SAP Term: time valuation

• Component: SRD-HR-TM

• Component Name: Time Management

• Description: A process in Time Administration that automatically evaluates all recorded times, all changes to an employee's time profile, determines existing time accounts and their balances, and optionally transfers the valuation results to downstream processes in target applications.

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• Key Concepts: 
  Time valuation is a process in SAP's Time Management component of the Human Resources (HR) module. It is used to calculate the amount of time worked by an employee and the corresponding wage or salary. This calculation is based on the employee's time records, such as clock-in and clock-out times, as well as any overtime or other special circumstances. 
  
  How to use it: 
  Time valuation is used to calculate the wages or salaries of employees. It takes into account the employee's time records, such as clock-in and clock-out times, as well as any overtime or other special circumstances. The calculation is done automatically by SAP's Time Management component of the HR module. 
  
  Tips & Tricks: 
  It is important to ensure that all time records are accurate and up-to-date in order for the time valuation process to be accurate. Additionally, it is important to ensure that all overtime and other special circumstances are taken into account when calculating wages or salaries. 
  
  Related Information: 
  Time valuation is closely related to payroll processing, which is also handled by SAP's HR module. Additionally, it is important to note that time valuation can be used in conjunction with other HR processes, such as attendance tracking and leave management.