From time to time, a paycheck is processed with incorrect or expired funding. Fortunately, you can use a Payroll Expense Transfer (PET) to update the funding source for a given paycheck after payroll processes.
There’s more to payroll funding than position funding. To make sense of the payroll transactions that post to the general ledger, account codes classify the kind of earnings and benefits processed by payroll and are used to post fringe rates and encumbrances.
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.
