Recovery of Rounded Off Amounts Setup 

Purpose

This process describes the configurations required for the:

·        Rounding off of the Net Pay wage type (/560) to a suitable denomination.

·        Recovery of the rounded off amounts from Net Pay wage type (/560).

Process Flow

For a Pay Scale Grouping for Allowances, you can set the following configurations in the IMG under Payroll India ® Recovery of Rounded Off Amounts ® Maintain Details for Recovery of Rounded Amounts (V_T7INY1):

·        Round to

You must enter the nearest denomination in rupees to which you want the system to round off the value of the Net Pay wage type (/560).

·        Option

You must select the option for the period in which you want the system to recover the rounded off amount.

·        Rnd. off

You must select the option (Upper, Lower or Nearest) depending on how you want the system to round off the value of the Net Pay wage type (/560).

·        You can enter the dates between which these configurations are valid for a Pay Scale Grouping for Allowances.

Result

Rounding off & recovery of rounded amt payroll function (INROR) will generate the Recovery of round off amt wage type (/ROR) and Rounding off adjustment wage type (/ROA) according the configurations that you have set.

Example

An employee belongs to the Pay Scale Grouping for Allowances MN01. The value of Net Pay wage type (/560) for the employee in payroll periods under consideration is Rs.10512.21. Some of the configurations that you can set in table view Recovery of rounding off amounts (V_T7INY1) with values of corresponding wage types are:

Configurations with values of corresponding wage types

Payroll periods under consideration	Round To	Recovery Option	Round Off	Value of /ROR generated in every payroll period under consideration (Rs.)	Month in which /ROA is generated and rounded off amount is recovered	Value of /ROA (Rs.)	Value of /560 after recovery of rounded off amount (Rs.)
April 2002 – March 2003	10	Annual	Lower	2.21	April 2003	26.52	10538.73
April 2002	100	Monthly	Upper	-87.79	May 2002	-87.79	10424.42
January 2002 – December 2002	10	Calendar Year	Nearest	2.21	January 2003	26.52	10538.73
February 2002 – December 2004	10	Indefinite	Upper	-7.79	Will not get generated	Will not get generated	No recovery

The system subtracts the value of Rounding off adjustment wage type (/ROA) from the value of Net Pay wage type (/560) in the recovery period. The system then rounds off the Net Pay wage type (/560) to a suitable denomination as configured by you, to generate the Recovery of round off amt wage type (/ROR).