Hi Nisha,
At the same time you are saying that wage type should be deduction wage type and payment. How could be possible.
I think some thing it's roaming in your mind based on some scenarion. Please share with your scenario in details then can possible share our idea.
You can define a deduction wage type from background but at the time of entry in the master if user maintain with negative sign then deduct wage type would be transfered to payment at the time of payroll processing.
Check and tell me.
Regards,
Sankarsan