Hi Bhama,
You need to keep the processing type blank for time id 01 in Table V_T555Z. Operation GENOT in PCR TO21 (processed by function GOT) will assign processing type M to the time pair.
How are you giving 40 hours of overtime approval for the month in IT2007? Overtime approval in IT2007 will be on a day basis and not monthly basis.
Thanks and regards,
Vivek Barnwal