EPY: PeopleSoft HRMS Contract Pay Primary Document
(Doc ID 1473711.1)
Last updated on APRIL 11, 2024
Applies to:
PeopleSoft Enterprise HCM Payroll for North America - Version 9.1 to 9.2 [Release 9]Information in this document applies to any platform.
Purpose
Individual contracts typically govern the compensation models in education (K-12, community colleges, and colleges and universities) as well as some segments of the public sector. Employers in higher education often process payroll and benefits to level payments over a payment term that may differ from the employee's contract term.
In HRMS 9.1, we delivered a more flexible Contract Pay solution tailored to the requirements of the K-12 and higher education industries. Some of the new features in 9.1 include:
- Calculate contract pay using earnings for actual workdays
- Configure whether holidays and school breaks are considered workdays for the purpose of this calculation
- Annualize taxable gross and imputed income for employees paid over less than a 12-month period
- Balloon Payments
- Contract change proration options
- A new Contract Payment Details page
- Contract Pay discrepancy reporting
- Process back-to-back contracts
- Specify multiple funding sources for contracts
This is a 'living' document to provide a comprehensive repository of information on setup, processing, and troubleshooting contract pay.
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Scope
Details
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