[IS_PLACEMENT_TYPE]

What is this:

A true/false question for placement type.

Asking Backstage If this staff placement type = xxx

Value will be returned:

Y - if the placement is configured to be a particular placement type within the payroll period.

N - if the placement has no placement type defined, or not any of the placement type within the payroll period.

Example:

Company want to give $1000 bonus for placement type "Permanent" only, and you don't want to add bonus for those staffs manually in payroll, you can have pay type for Bonus and set a formula like this: 

IIF ('[IS_PLACEMENT_TYPE(Permanent)]'='Y', 1000,0)

 It will return "Y" if the staff has placement type "Permanent" by the end of the payroll period.

If "Y", there will be $1000 entitled to this staff if his/her type is "Permanent", and 0 if his/her

type is not "Permanent",

You can also use | to check for multiple placement types. For example,

[IS_PLACEMENT_TYPE(Permanent|Consultant)]