Understanding Processing Interim Payments in a Payroll Cycle
You process interim payments to create payments, generate reports and journal entries, and update employee payroll history information. You can create printed payments, automatic deposit information, and reports using the Interims Workbench, or you can create this information during a regular payroll cycle. Regardless of the method that you use to create printed payments, automatic deposit information, and reports, you must process interim payments in a regular payroll cycle to create journal entries and update employee payroll history.
You can process interim payments through a regular payroll cycle using one of two methods:
Method |
Description |
|---|---|
Merge interim payments |
The system processes interim payments with the regular payroll payments. The system prints computer interim payments along with the regular payroll payments. To be included in the payroll cycle, an interim payment must have a payment date that occurs on or earlier than the payment date for the payroll cycle. |
Process interim payments only |
The system processes interim payments only, and prints all computer interim payments that are included in the payroll cycle. To be included in the payroll cycle, an interim payment must have a payment date that occurs on or earlier than the payment date for the payroll cycle. |