Accruals Overview
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Description
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An accrual policy defines how and when balances associated with accrual codes are credited and debited.
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An accrual policy defines how and when balances associated with accrual codes are credited and debited.
Earnings identify different types of employee compensation for services provided. Earnings can also include specific parameters such as accounting rules, tax laws, and reporting requirements.
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At the master company level, you are provided with four configurable business rules called organization levels that allow you to designate the structure of your component companies.
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A deduction is a monetary amount subtracted from an employee’s taxable income that reduces the amount paid on a pay statement.
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Business rules can be thought of as required instructions for a system to accurately process information.
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Organizations might follow different processes to build and maintain employee work schedules, depending on their specific business needs.
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Taxes are calculated based on locations. A location is the physical location where the employee works, which determines the worked-in state/province income tax and/or local income tax.
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