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EPY: PeopleSoft HRMS Contract Pay Master Document (Doc ID 1473711.1)

Last updated on APRIL 03, 2019

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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