Typically regular earnings, or regular compensations, are salaries and wages paid to employees on a recurring basis. In addition to these earnings, there are other ways an employee can be paid that will contribute toward the employee’s gross earnings. These are generally referred to as additional Income Types.
By default, Humi provides three basic Income Types: Bonus - Work-related, Bonus - Discretionary, and Commission. These Income Types are available to be selected every payroll, no setup required.
It is possible to set up additional Income Types for the payroll account. Depending on the specifications, there are two methods to add an additional Income Type.
By default Humi Payroll provides a list of Income Type recipes, each with its specific configurations based on tax, pension, and insurance implications.
If your employees have Income types that are unique to your company, you can submit a request for the custom Income Type to be approved and added. Usually the turnaround time is within 24 hours of the request.
Once the income type has been setup to payroll, when you run a recurring or off-cycle payroll you can then create line items based on that Income Type.
It is possible to edit any of the additional and custom Income Types.
Income Types can also be removed from the account. Note that once an employee has been paid with the Income Type, removing the Income Type will not erase the YTD records for the employee.
Income Types are by default available to all employees every payroll, and you can enter each line item amount manually each time. In addition, in order to reduce the manual processing time you can also specify a recurring amount per employee per Income Type.
Even with the recurring amounts setup, it is possible to override the amount in a specific payroll.