"How do I record company services provided for employee personal use?"
When your company provides other services for an employee, it's considered a "Benefit-in-kind". Examples of other services include paying for car parking, club and gym memberships, entertainment, cell phone phones, holidays, and more.
To add other services benefits to an employee's pay, as a repeating "Benefit-in-kind":
- First, select the person who's getting the other services benefits on: MenuPeople
- To make a new repeat payable, go to: PayPay settings
- And scroll down to the "Repeat payables ... personal" heading.
- Then click: New repeat payable
- Next, select: Benefit-in-kind
- Next, type in a Description of the benefit-in-kind.
- Select the monthly time frame: Amount type
- And then type in the monthly cost: Amount
- By default, "Arranged by" is already set to: "Company"
- Then scroll down and click the "Advanced" heading.
- Optionally, if there's a co-pay, or a monthly amount that the person's agreed can be taken off their pay, enter that also in: Employee deducted co-pay
- Then click: Save
- Then on the repeat payable list, hover your mouse over the repeat payable, and click the "See on paystub" button:
- You'll now see an amount showing under: "Benefits in kind ... company arranged"
- And if you hover your mouse over the amount, you'll see a breakdown of the calculation.
- There may have been a co-pay, or an amount that the person's agreed can be taken off their pay. If so, you'll also see that amount showing as "Employee deducted co-pay" with its own notes when you hover.
- Then if you click the "Next paystub" circle, you'll see the same amounts repeated on every payday. Including "Benefit-in-kind" and: "Employee deducted co-pay"
- If you later decide you want to remove, or stop the repeating "Benefit-in-kind", click its "Edit" button:
- And finally, you can change any part of it, including changing the "Ends on" date to finish earlier, if required.
Keep in mind that:
- The co-pay amount is automatically set to be deducted from the person's pay.
- The company doesn't have to separately collect the co-pay amount from the person.
- Also, in some cases, the employee has themselves paid for the other services benefit cost, and is asking the company for a once-only reimbursement.
- To add a "Once only taxable benefit" reimbursement, click: MenuExpense claim, select the person, and click: Once only taxable benefit
To learn more:
And that's it! That's all you need to do to add an employee's other services benefits!