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Budget wrap ups at Payflip ✨

Here is an article to explain what this closing tab of the year is about.

Sofia Van Rijckevorsel avatar
Written by Sofia Van Rijckevorsel
Updated over 2 months ago

You just discovered your brand-new budget wrap ups tab! Hurray. 🎉

In this tab you can find all the important dates and details you need to wrap up your budget(s) successfully.

Here’s what you should keep an eye on. 👇🏼


⏰ Choice Deadline

As of the choice deadline your employees can no longer make choices with their budget(s).

Example :

  • Choice deadline : 01/12/2024

  • Last day to submit choices : 30/11/2024

➡️ What is the consequence for you as admin?

You do not have to do anything for that specific date.

If you want to adjust this deadline to better fit your schedule, please do so at least one week before. How to do so?

💌 You will receive 2 email reminders ahead of this deadline: one week prior and one day prior.

➡️ What is the consequence for your employees?

Employees need to make sure to submit all their choices by this date to avoid any surprises later. This means that they need to confirm all their choices. All choices that are still in their shopping bag, will be deleted.

Employees will still be able to log in to Payflip but will not be able to use their budget(s) anymore.

💌 Employees will receive 2 email reminders ahead of this deadline: one week prior and one day prior.

💶 Cash Out Date

On this date, the unspent employee budget(s) will automatically be converted into cash.

➡️ What is the consequence for you as admin?

Admins, this is your deadline to wrap up all choice-related tasks for the year. All the choices need to be approved by the very latest one day before the deadline. All choices not approved by this date will be cancelled.

Example :

  • Cash out date : 08/12/2024

  • Last day to approve choices : 07/12/2024

If you want to adjust this deadline to better fit your schedule, please do so at least one week before. How to do so?

💌 You will receive 2 email reminders ahead of this deadline: one week prior and one day prior.

➡️ What is the consequence for your employees?

Employees can still log in to Payflip after this date but cannot use their budget(s) and so cannot submit any choice. They will see their budget(s) balance(s) set to 0 EUR.

📊 End-of-year payroll file delivery date

When will I get these files?

After your cash-out is processed, the payroll file(s) will be ready 1 day after the cash-out date.

How will I get these files?
As an admin you will receive an email with the payroll files (one per budget).

If your social secretary contact's email address is mentioned in Payflip, they automatically receive the file(s) for processing.

If the email address of your social secretary is not mentioned in Payflip, you will need to forward them the payroll file(s) yourself.

How to process this file?

The file(s) reports the following information per employee :

  • Their budget balance

  • For the end-of-year premium budget : the amount that needs to be deducted from the related budget (according to the benefits choices)

  • For the bonus budgets and the Mobility Budget : the amount that still needs to be paid out (according to the benefits choices)

Where can I find these files?

  • In the email we send out to you (and your social secretary)

  • In the payroll overview tab in Payflip 👇🏼

❓How to modify the dates

The choice deadline or the cash conversion date doesn't suit you?

Good news, you can modify them to match your needs! Follow these steps to do so:

  • Go to the 'Company' > 'Budgets' tab

  • Click on the 'Edit' button of the budget for which you want to change the date(s)

  • Modify the dates

  • Don't forget to save the changes by clicking the button in the top right corner

💭 Payflip's advices

  • Choice deadline : if you want your employees to benefit from the Black Friday (29/11/2024) and Cyber Monday (02/12/2024), insert a choice deadline on 03/12

  • Cash out date : set the cash out date one week after the choice deadline so you have some time to approve the last choices, 10/12.

  • Payroll file delivery date : you will then receive your payroll file on 11/12.

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