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What is Symbolic Amount?

Answers were Sorted based on User's Feedback



What is Symbolic Amount?..

Answer / chennakesva reddy

symbolic account is an intermediate account between G/L
account and wage types while posting wage type results to
FICO.

Is This Answer Correct ?    10 Yes 1 No

What is Symbolic Amount?..

Answer / barsha

Wage type in HR Payroll are assigned a symbolic account for
posting purpose. The symbolic account are linked with the
G/L accounts for finance posting.

Is This Answer Correct ?    8 Yes 1 No

What is Symbolic Amount?..

Answer / pallavi

we cannot map wage types directly to G/L accounts.Symbolic
account is the interface between wage types and G/L
accounts.wage types are mapped to symbolic accounts and
symbolic accounts are mapped to G/L accounts

Is This Answer Correct ?    5 Yes 0 No

What is Symbolic Amount?..

Answer / lavanya

Symbolic account is an cinterface used for General Ledger
and wagetypes.

Is This Answer Correct ?    3 Yes 3 No

What is Symbolic Amount?..

Answer / sujata behera

Definition:
Customizing object for posting results from Payroll and data from Personnel Cost Planning and Simulation to Accounting.
Use
Wage types from Payroll ( PY ) are not assigned directly to accounts in Financial Accounting ( FI ), but via symbolic accounts. A number of wage types, which the system should post to a specific account in Financial Accounting, are assigned to a symbolic account in Customizing. The symbolic account’s account assignment type determines the type of posting (for example, posting to expense account, posting to receivable account, posting to payable account). The symbolic account is, in turn, assigned to the account in Financial Accounting . If the account in Financial Accounting is an expense account, it is usually assigned a cost element in Controlling ( CO ). This is used for posting personnel costs (actual data) and for transferring data from Personnel Cost Planning and Simulation ( PA-CP ).
A wage type can be assigned to several symbolic accounts. This is usually the case for wage types that should be posted as both expenses and payables (for example, wage types for the employer’s contribution for social insurance).
Assigning symbolic accounts to accounts in Financial Accounting does not have to be done 1:1. Several symbolic accounts can be assigned to the same account in Financial Accounting. The amounts that are posted via a symbolic account to Accounting can be distributed among different accounts in Financial Accounting due to the employee grouping for account determination (feature PPMOD).
If a symbolic account requires a fixed account assignment for Funds Management (FM) or Grants Management (GM) with the New General Ledger , the feature Setting fixed account assignment grouping for FM/GM (PPNGL) should be read to determine a return value.

Is This Answer Correct ?    0 Yes 0 No

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