Lump-sum payment of income which has already been earned but for which payroll has not yet been run. Such payments are usually effected between two ordinary payments of either wages or salaries.
Rather than pay the full amount of earned income after each payroll run, many companies and organizations prefer to effect one or even several advance payments during the payroll period. The advance payment is roughly equal to the amount of income which the employee has already earned.
The exact amount of remuneration is calculated later. The advance payments are deducted from the total and the employee receives the remaining amount, usually when wages and salaries are paid in the following month.
More terms such as advance payment (PY) in Dictionary A.
- Manual Applicant (IS-HER-CM):
- Help for admission to a university. In Campus Management, an applicant can have the following statuses: Admitted applicant In this case, the university has completed the admission process and offered the advance payment (py) definition.
- Manual Activity Report:
- Help service notification describing a maintenance or service activity that has been performed. The activity is not performed to fix a malfunction, problem, or damage to a technical system. An activity advance payment (py) explain.
- Manual Allocation Strategy:
- Help allocating materials to distribution centers and stores. Allocation strategies are an alternative to allocation rules and are used to ensure that quantities are allocated equally (when a plant group advance payment (py) what is.
- Manual Approval Procedure:
- Help The assignment of access to functions and applications in the system or to a specific function module advance payment (py) meaning.
- Manual Activity Management (FS-CM):
- Help Component for controlling processing of situations requiring further scrutiny within a system advance payment (py) abbreviation.
