Defining compensation schedules

  1. Select Compensation > Set Up > Incentive Compensation.
  2. On the Compensation Schedules tab, click Create.
  3. Specify this information:
    Compensation Schedule

    Specify the long and short name for the schedule. For example, Monthly, Quarterly, Annually, or Semi-Annually.

    Version Date

    Specify a version date for the schedule. The version date must align with the compensation program version date.

    Payout Frequency

    Optionally, select the frequency for the schedule. For example, Monthly, Quarterly, and so on. This is used with the measurement period to create the compensation periods. For example, if you select Monthly in this field, and specify 1 in the Measurement Period in Years field, the application will create 12 compensation periods.

    Measurement Period In Years

    Specify the measurement period. This correlates with the length of the compensation program. For example, if the compensation program version is January 2019 though December 2019, this is a one-year measurement period.

  4. Click Save.

    The application creates the compensation periods in the Compensation Periods tab.

  5. Optionally, in the Compensation Periods table, specify a date in the Scheduled Payment Date field to calculate payouts for a specific date within each period. You can use this date for selection criteria when you are creating payouts.