The Reimbursements and Employee Expenses Claim
The Reimbursements also fall under approval system. Whenever an employee makes some expenses on behalf of company work or during this work for the companies customer support or custom support work, it can be considered as reimbursement.
The Reimbursement can also be claimed by the employee in two ways, One from the salary, he/she can claim it. They can also get Payment from the company to compensate it. The Reimbursement contains several options such as Projects, Suppliers, Expense date, due date, Supplier Reference, Suppose if the supplier is new, he can input the name of the supplier. Tax group if you they know, And finally the Employee who made the reimbursement.
This reimbursement is a mere copy of the Purchase ->Expense form. Where the purchase expense requires the Supplier name mandatory, But in Reimbursement the Employee name is mandatory.
Expense Items
The Expense items are needs to be defined with GL Accounts, Which can be defined from the Purchase -> Settings -> Expense. And also you can add the Expenses from the Reimbursement for itself. But you have to know the right expense codes to add it.
These line items are also can be added with item tax types. Based on that, the tax value also calculated for it. Whenever you create a new employee you need to define a Salary Account and Reimbursement Account. Both are useful during the time of payroll and Reimbursement process.
Reimbursement Approval
There is an approval Add-on available to take this reimbursement under the approval of higher level role employees to get it approved. This is possible with additional add-on Approval.
Compensate Reimbursement
Reimbursement can be compensated from 2 ways.
- Employee Payment, which will be done in prepaid or post paid method of compensation.
- Employee Salary, Sometimes, these reimbursements can be compensated during the time of payroll process.
Also this Reimbursement balance covers connects with employee balances, and payables. You can also refer several reports of HRM helps to get the payables. and payments.
Allocations
Employee payments and allocations are possible with compensations.