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K. Services supplied

Benefits for other services3:31
Benefits for other services
1 videos, with a playing time of 3 minutes


 

Benefits for other services3:31

"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, mobile phones, holidays, and more.

To add other services benefits to an employee's pay, as a repeating "Benefit-in-kind":

  1. First, select the person who's getting the other services benefits on: MenuPeople
  2. To make a new repeat payable, go to: PayPay settings
  3. And scroll down to the "Repeat payables ... personal" heading.
  4. Then tap: New repeat payable
  5. Next, select: Benefit-in-kind
  6. Next, type in a Description of the benefit-in-kind.
  7. Select the monthly time frame: Amount type
  8. And then type in the monthly cost: Amount
  9. By default, "Arranged by" is already set to: "Company"
  10. Then scroll down and tap the "Advanced" heading.
  11. 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
  12. Then tap: Save
  13. Then on the repeat payable list, hover your mouse over the repeat payable, and tap the "See on payslip" button:
  14. You'll now see an amount showing under: "Benefits-in-kind ... company arranged"
  15. And if you hover your mouse over the amount, you'll see a breakdown of the calculation.
  16. 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.
  17. Then if you tap the "Next payslip" circle, you'll see the same amounts repeated on every payday. Including "Benefit-in-kind" and: "Employee deducted co-pay"
  18. If you later decide you want to remove, or stop the repeating "Benefit-in-kind", tap its "Edit" button:
  19. 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, tap: MenuExpense claim, select the person, and tap: 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!

Updated: Fri, 10 Nov 2023.

© 2020–2024 1st Money UK Holdings Ltd. All rights reserved.
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