What is Payroll Periods?

Answer

• Records of payroll run for earlier months an employee are always stored for tax, audit and retro purposes. Suppose the current month is Oct 2010 and you want to refer to the payroll results for the month of Jan 2010 for an employee who is paid on monthly basis. It surely is easy to look for this data. But what if the employee is configured to be paid every 9 days and you want to know what his 16th payslip, for the current financial year ,looked like. How do you go about searching for this data ? Inconvenient isn't it ? Well, Enter Payroll Periods.
• Payroll Periods represents the period for which regular payroll is run.
• It is identified by a period number and a payroll year.