What is included on the Payroll Pre-funding Invoice?

Article author
Nneka
  • Updated

We issue the Payroll Pre-funding invoice (Invoice #1) on the 10th of each month and it shows an estimate of how much payroll for that month would cost. When creating the Payroll Pre-funding invoice, we use our Cost calculator to generate the invoice estimates. This means that on the invoice, we do not prorate the employee’s base salary or employer's contributions.

For employees who start between the 1st and 15th of the month, a full month’s salary will be shown on this invoice. For employees who start on or after the 16th of the month, we will not include them on this invoice. The reconciliation invoice will then always show the actual amounts paid to these employees for the month.

This invoice includes:

  • the employee’s base salary
  • employer statutory contributions

All other costs related to benefits, incentives, expenses and our management fee will be included on Invoice #2 which is the Reconciliation invoice.

Sample Invoice

prefunding_invoice.png

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