oracle payroll – Process cycle
- Retro Pay
- Quick Pay or Payroll Run
- Payments (Cash, Check and Nacha)
- Pay slip Generation
- Transfer to GL
What is Retro Pay? – Retro Pay is a payment to employees along with salary when there are any arrear payments when Increments or promotion is announced by the organization.
There is also term called Proration in the Oracle Payroll, which is nothing but if an employee joins in the mid of the month or any date before payroll cutoff date then
His salary has to be prorated meaning he will not get full salary for the month.
Quick Pay/Payroll Run
Quick Pay is a facility where payroll administrator can pay for a specific employee while payroll run is for all active employees.
Costing is a process to run as part of payroll. Most of the organizations do costing while making payments, so that it is costed under different cost heads (GL Accounts) defined in Oracle Financials.
Transfer to GL
Transfer to GL is a mandatory process, so that all payroll records after the payroll run are transferred to General Ledger. Once this is successful, it should be posted
Into Journals in General Ledger.
Statement of Earnings or SOE provides complete pay record for an employee once quick pay is processed successfully. This is very useful window for a Payroll administrator to check the results of quick pay of an employee.
Hierarchy for costing:
1. Payroll—————> Least
2. Element Link