Options to Determine an Element's Latest Entry Date
An element's latest entry date determines how element entries process after a person is terminated or transferred to another payroll.
The options include: final close, last standard earning date, and last standard process date. These are the predefined options. You can create others that fit your business needs.
Final Close
Use this option to let the element stay open for entries beyond a person's last day worked. For example, you may want the element to stay open to pay a severance package.
Last Standard Earning Date
Use this option to stop all element entries on the date the person leaves. You can use this option for recurring entries, such as salary.
If you select the last standard earning date option, also select proration for the element. This ensures that the element is processed up to this date, even if it isn't active at the end of a payroll period.
Last Standard Process Date
The application sets the value for the last standard process date to the last day of the pay period in which the person is terminated. However, you can set it to a later period when you terminate the person. The application stops all element entries on the last standard process date or on the date the assignment ends, if it's earlier.