How to add a payout (non-recurring income) for employees?

On the Horizons Platform, payouts (non-recurring income) include various cash payments in addition to an employee's fixed, basic income (i.e. annual performance-based bonuses, sign-on bonuses, sales commissions, one-time project incentives, special recognition awards, and so on.)

In this article, we'll guide you through the process of adding such a payout to an upcoming pay cycle. Please note that the cut-off date to add non-recurring income is generally the 5th of every month.

Step 1: Access the Employee Profile

To initiate the process, log into the platform and locate the left-hand sidebar. Click on the "People" option to proceed.

Next, choose the specific employee for whom you wish to add a payout. Click on their name or profile to access their employee details.

Step 2: Navigate to the 'Compensation' tab

Within the employee's profile, you will find a 'Compensation' tab. Click on this tab to access the relevant section where you can add non-recurring income (variable pay).

Step 3: Access the non-recurring income (Variable Pay) Area

Locate the "Add new" button in the Non-recurring income (variable pay) section. Click on it to begin the process of adding non-recurring income for the selected employee.

Step 4: Fill in the Required Information

A form will appear, prompting you to enter essential details regarding the payout:

Select the month for which the non-recurring income (variable pay) should be paid.
Specify the type of payout it represents (e.g., annual bonus, performance-based bonus, or commission on sales).
Enter the amount of the non-recurring income (variable pay)
Add a note (optional)

Make sure to provide accurate and complete information in this form. Once you've filled in all the necessary information, click the "Save" button to confirm the addition of the payout to the selected employee's profile. This action ensures that the amount will be included in their upcoming pay cycle.

Can I edit a non-recurring income after submission?

If you find the need to edit the amount of the payout after it has been submitted, follow these steps:

Go to the employee's profile and access the compensation tab. (step 1 and 2 above)
Locate the specific non-recurring income entry you wish to edit.
Click on "View" to access the details.
Make the necessary adjustments and save the changes.

Timeline

Please be aware of the deadline for each pay cycle, which is the 5th of each month. Non-recurring income (variable pay) for the current pay cycle can only be submitted before this deadline. Ensure that you adhere to this timeline to avoid any payment delays.

Conclusion

Adding non-recurring income (variable pay) to pay cycles is a crucial aspect of compensating your employees fairly and transparently. By following these steps and keeping an eye on the platform's deadline for each pay cycle, you can streamline the process and ensure that your employees receive their well-deserved non-recurring income (variable pay) on time.

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