Finalizing payouts for multiple pending payout records

When you run a calculate payout action, the payout records are in a Pending state. You can select records on Compensation > Incentive Compensation > Payouts > Maintain Payouts > Pending tab and select the Finalize Payouts action. Or you can use this procedure for the Finalize Payouts mass action to combine multiple component programs, pay components, and resources in your payout finalizations.

  1. Select Compensation > Incentive Compensation > Payouts > Finalize Payouts.
  2. On the Finalize Payouts form, specify this information:
    Compensation Programs
    Specify up to six compensations programs for which to finalize payouts. If you leave these fields blank, then all compensation programs are included.
    Note: All of the compensation programs must have the same version date.
    Compensation Program Version
    If you selected compensation programs, you must specify the version date for the compensation programs.
    Program Manager
    Select a program manager to finalize payout calculations for compensation programs that are assigned to the program manager.
    Pay Component(s)
    Specify up to six pay components.

    If you selected compensation programs, then the finalizations are applied to the selected components for the selected compensation programs.

    If you leave these fields blank, then all pay components are included.

    Resource Employment ID Begin, End
    Specify a range of employment IDs for which to finalize payouts or specify a resource group
    Resource Group
    Specify a resource group for which to finalize payouts or specify a range of employment IDs.
    Payment Date Begin, End
    Select the payment date range for which to finalize payments.
    Compensation Period Begin, End
    Select the compensation period range for which to finalize payments.
    Currency
    Select the currency for which to finalize payments.
    Include Pending Records
    Select at least one of these two check boxes: Include Pending Records or Include Error Records for Bonus Awards. You can select both.

    If you only select the Include Pending Records check box, then the action applies only to pending records.

    Include Error Records For Bonus Awards
    Select at least one of these two check boxes: Include Pending Records or Include Error Records for Bonus Awards. You can select both.

    If you only select the Include Error Records for Bonus Awards check box, then the action applies only to corrected error records for bonus awards.

    Note: Correct the bonus award records before you run this action.
  3. Click OK to run this action immediately or click Schedule to schedule the action to run at a later date.
    When the payout record is finalized and the payment schedule for the employee’s primary work assignment has HR Payroll enabled, a time record is created in Approved status. The payout record is updated to Submitted To Payroll status. The time record can be accessed from the payout record.
    • If errors are displayed, the time record is not created and the payout record is set to Finalized With Error. After the error is corrected, the Submit To Payroll action can be taken to finalize the payout and create the time record.
    • For time records to be processed correctly, the pay code for the payout record must be set up with a calculation type of Do Not Calculate.