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Friday, 5 December 2014

Payroll Costing - Introduction


This is one of the most important and vital feature of Oracle Payroll and HRMS on the whole. It’s through the Costing that Human Resources interact with the Oracle Financials (GL). Costing as a concept is to account the cost incurred on an employee in terms of compensation provided to him/her by the organization. Oracle achieves this through three processes - 



Costing
  • Generates element wise accounting entries for elements processed in Run/Quick Pay
  • Debits the Costing account and Credits the Clearing/Control account
  • Accounting Entries are determined by the values of Cost Allocation KFF at different levels

 Costing of Payments
  • Generates accounting entries based on the Prepayments
  • Debits the Clearing/Control Account and Credits the Cash Clearing Account
  • Accounting Entries are determined by the values provided at the Payment Method level

Transfer to Ledger (GL/SLA) 
  • Based on whether the “Transfer to GL” checkbox at Element Link and Payment Method Level are checked
  • Will transfer all the entries generated by the Costing Process to the GL_INTERFACE table
  • Will transfer only those entries generated by Payment of Costing for whom there is a payment process (Cash, Cheque, Direct Deposit, etc) to the GL_INTERFACE table
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