Process Terminated Employees
The application continues to process a terminated employee in payroll and make payments even after the employee leaves the company or after their last regular salary has been processed.
These dates determine till when the application processes an employee in payroll.
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Last Standard Earning Date
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Last Standard Process Date
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Final Close Date
Last Standard Earning Date
The date till which the employee can be paid his regular salary. This date is the employee's actual termination date.
Last Standard Process Date
The date on which the last regular payroll for the employee is processed. This date is the period end date of the payroll to which the employee is terminated.
Final Close Date
The date on which all settlements to the employee are expected to complete. No payments can be processed for the terminated employee after the final close date.
By default, the application sets the Final Close Date to end of time, which is 31-Dec-4712. You can modify the date manually as required. For example, if an employee is terminated in June, the application processes employee's last regular payroll in June. To make the full settlement in October, set the Final Close Date as 31st October.