The Finance page allows you to:
- Review the account balance of everyone in your organization.
- Execute a payout, as part of your company payroll process.
To access the finance overview,
- Click the finance icon in the sidebar.
- Payouts tab: list payouts and review the account balance of everyone in your organization
- Reports: download various financial reports.
- Fiscal Year: specify for which fiscal year the payouts are listed.
- Currency: specify for which currency to view payouts and account balances.
- Member list: All members are displayed here categorized by the team to which they belong
- Add new Payout: Click this button to add a new payout column
Add an ad-hoc Payout
- Currency Selection: Payouts can only be performed for one currency at a time. The first step to adding a payout is selecting the currency.
- Add ad-hoc payout: Use this button to begin the payout process.
- Payout date: Specify a "payout date" for your payout. Results with effective dates from before or including this date will be included in the payout, so it is important to select the correct date.
- Include/exclude payees: Select the people and teams you would like to be included in your payout. By default, all payees will be included.
- Add payout: Use this button to move to the next step, Confirm Payout Amounts.
Confirm Payout Amounts
- Starting Balance: The current account balance.
- Rewards: The sum of all rewards earned since the last payout
- Credit: This field is used to ‘gift’ participants additional rewards. You can increase the payout with an amount that will also be credited to the reward account of the plan participant. If you want to reduce the reward account, enter a negative value.
- Payout transaction: This is the total amount the user is being paid with the payout. You can override this value.
- Ending Balance: This is the amount that will remain on the user’s account after the payout is closed. If the full amount of a user’s balance is included in the payout, the ending balance will be zero.
- Confirm payouts: Click here to confirm the payout values.
- Cancel: Click here to cancel this payout. You will lose any updates you made in the payout process.
Adding Credit vs Editing Payout Transactions
You can edit the final payout amount in two ways:
- By adding Credit
- By adjusting the Payout transaction
The two options are not interchangeable.
A Credit (positive or negative) is considered a gift and it has no impact on the ending balance. It represents a new transaction added to a user’s account and is immediately paid out.
Edits to the Payout transaction are considered an advance and have an impact on the ending balance. For example, if you decrease the Payout transaction by €100, then the €100 will stay on the user’s account, and the ending balance will be €100. If you increase the Payout transaction by €200, the ending balance will be - €200, and the user will have to pay it back with their future rewards.
Closing a Payout
- Open payouts: Click on the open payout
- Configure: Use this to change the payout amounts you confirmed in the “Confirm Payout Amounts” section. This can be done up until the payout is closed.
- Close: Use this to officially close the payout period and create transactions for all of the members receiving rewards in the payout. This step cannot be undone.
- Cancel: Use this to cancel the payout entirely.
You also have the option to leave a comment for each amount included in a payout.
- Click on the three dots next to the payout amount
- Click on Add a comment
- After writing the comment you would like to include, click post.
- The red tab indicates that a comment has been added.
- To edit or delete a comment, click on the three dots next to it.
- Payout details: Once a payout is closed, you can select it to view more information.
- Payout details report: Information on rewards included in the payout can be downloaded as an .xlsx file.