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Budget deadlines explained: the difference between the choice deadline and the yearly cash-out date

⏰ Choice Deadline

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

Example :

  • Choice deadline : 01/12/XXXX

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

➡️ 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.

💶 Yearly 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/XXXX

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

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.

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