Balances

A balance is helpful to store positive or negative accumulation of elements. This can be fed by the pay run results or by an Input value. Usually a balance is created when we need to track an aggregated value associated to one or more elements, for the purpose of reporting or validations. To Measure a balance, we have dimensions and levels.

Dimensions: These are the different axes through which the system can calculate the numbers. For an example, the gross earning in this month, in this Quarter, in this Year; are the different time dimensions.

Levels: These are the levels on which the dimensions will be applied. For an example, if we take Month as the time dimensions, the levels can be, Monthly Salary of an assignment, Monthly Salary of an employee, Monthly Salary of a department etc.

To summarize, balances are a way of keeping track of one or more elements with various dimensions and levels. Once the balance is created, the system needs to know the different elements that will be part of the balance calculations. The attachment of elements to balance, can be done in three ways:

• Using Primary Classifications: The run result of all elements, under the classification will be gathered in the balance.
• Using Secondary Classification: It’s as good as using Primary classification, however the classification changes to a more granular level.
• Using Individual Elements: We can either choose a Run Result or an Input value for the same. However if we are using an Input value, we should always have the units same as balance's unit.

Let's seethe steps involved to create a balance.

Responsibility: HRMS Manager

Navigation: Total Compensation -> Basics -> Balance

Steps: Create a new record and start filing the details in the fields. See Figure 5.11 – Define Balance.

Figure 11 Define Balance

(Figure 5.11 – Define Balance)

Laws of Balance:

• Either Feed or Classification has to be entered in a balance. We must not enter both.
• In either screens, it populates only those elements that have an input value of the same unit as of Balances.

Balance Feeds

As we discussed earlier, there are three ways to assign elements to a balance. However we can broadly divide the ways into two, using Elements, and using Classifications (Including both primary and secondary). Let’s discuss both the ways in detail.

Using Elements:

Responsibility: HRMS Manager

Navigation: Total Compensation -> Basics -> Balance -> Feeds (Button)

Steps: Create new rows and start filling in the details. See Figure 5.12 – Balance Feeds.

Figure 12 Balance Feeds

(Figure 5.12 – Balance Feeds)

This screen helps us to seed the Input values of various Elements into the Balance.

Using Classifications:

Before assigning Classifications to the Balances, there might be a need to create secondary classifications. Because in most cases, all the elements in a Primary classification are not meant to be included in a single balance; and the inclusion is needed just for a subset of it. So in cases like that, secondary classification is created first as a subset of the primary, with the required elements in list; and then the secondary classification is attached to the balance.

Responsibility: HRMS Manager

Navigation: Total Compensation -> Basics -> Balance -> Classifications (Button)

Steps: Create new rows and start filling in the details. See Figure 5.13 – Balance Classifications.

Figure 13 Balance Classifications

(Figure 5.13 – Balance Classifications)

Balance Dimensions

As discussed earlier, Dimensions are the axes of a balance that can provide data related to a specific area/ time. Most of the dimensions used in balances are related to time.

Responsibility: HRMS Manager

Navigation: Total Compensation -> Basics -> Balances -> Dimensions (Button)

Steps: Create new rows and start filling in the details. See Figure 5.14 – Balance Dimensions.

Figure 14 Balance Dimensions

(Figure 5.14 – Balance Dimensions)

Initial Balance Feeds

An initial feed is used, to initialize a balance with a value to start with. One element and one of its input values must be selected to initialize the balance. And later, as the processing continues, the additions and subtractions are made to the initialized value, based on the definition.

Responsibility: HRMS Manager

Navigation: Total Compensation -> Basics -> Balances -> Initial Balance Feed (Button)

Steps: Create new rows and start filling in the details.