Where can I find a detailed breakdown of the payroll costs?
We've crafted a process tailored for simplicity and clarity, ensuring that reviewing, understanding, and approving your Horizons payroll invoices is straightforward. There are two methods available for you to examine payroll costs, which we've outlined below:
Option 1: Review the Payroll Report on the Horizons Platform
When on our platform, you can visit the Payroll Report module. For each employee, you can review his/her payroll items including the employer burden costs in the currency of local payroll.
Simply use the dropdown next to the employee's name to view their full payroll breakdown. This feature lets you identify any differences or changes from the previous two months' payroll. We're also gearing up to introduce the capability to view all historical months soon. For your convenience, the data can be exported as a .csv file using the blue download button at the top right corner.
Option 2: Check page two of the payroll invoice
As an alternative to visiting the Horizons Platform, you may also review the payroll invoices directly. On page two - see screenshot below - you may find the same breakdown of employer costs per employee listed in the currency of the invoice (aka Billing Currency).
You will find a full breakdown along with the team member's:
- Recurring income: gross salary, allowances, etc.
- Non-recurring income: variables, commissions, severance, etc.
- Employer burden: social security, pension, payroll taxes, etc.
- Regularization (What does "Regularization" mean?): any differences from the previous months' invoices compared to the actuals
What is the percentage for each item in the Employer Burden?
Our current Payroll Module does not provide a breakdown of each contribution by percentage for each cost item. The figures displayed are actuals that have been verified by local payroll teams and authenticated by the respective in-country tax and social security authorities. The numbers in our payroll module, which compute your invoices, aren't derived from formulas within our system.
Given the intricate nature of global payroll and the frequent changes in contribution rates across numerous countries, our platform is not built and intended to provide real-time percentages along with the invoices.
To provide clearer insight into contribution rates, I recommend using our Cost Simulator tool, located in the "Tools" section. This simulator offers a detailed breakdown of each employer cost component and the associated contribution items. It's regularly maintained for accuracy. Major updates reflecting significant changes in employer contributions are implemented promptly, while smaller adjustments may occur on a quarterly basis, which could lead to minor discrepancies.
Thoughts on improvements?
Our aim is to simplify and streamline the process for you to review, understand, and approve your Horizons payroll invoices. Should you have any suggestions, requests, or feedback on how we can enhance this experience, we're all ears. Please don't hesitate to reach out.
We're constantly evolving, and your insights are invaluable to our progress.
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