This is a common requirement in many PS and private organizations.
In such case, running time eval for a pay period will result in generating time w/t's for the time eval period using WSR in IT 7, with any entries of IT 2003, IT 2001
a)for the period up to pay period cut-off date - actual entries of IT 2002,
b)for the period after pay period cut-off date -the attendance is assumed to be as per IT 7 & any IT 2003.
Also refer to my response in the thread below. You can set up of start/end dates for a payroll area's pay period; with a user program, update the entries each pay period and set up a daily batch job using this user pgm.