The HCM payroll encumbrance calculation process is an important way to track projected payroll obligations — such as payroll, taxes and deductions — in the general ledger.
There’s more to payroll funding than position funding. Account codes classify the kind of earnings and benefits processed by payroll and are crucial for encumbrances and budgeting.
Some faculty with nine-month academic year contracts may choose to have their pay distributed over a longer time period. Understand how these extended payouts align with fiscal year budgets and the general ledger.
As hiring for the new academic year begins, payroll liaisons should proactively check for HCM data mismatches that can affect payroll funding for new hires.
