The existing Journals functionality has been expanded to enable users to add cost splits for team members in various ways, based on how their pay is structured each period.
The cost splits feature is designed to provide users with a robust tool for allocating team members' costs across multiple categories. This capability enhances financial tracking and reporting by ensuring that expenses are accurately distributed according to the specific needs and organisational structure of the company.
The cost split widget is visible only if a company has defined Business categories and the team member has been added to a business category; otherwise, it remains hidden.
Users can split costs for team members once the business categories are defined within the business categories area under the Report & Journal section of a company’s settings. This applies whether they add a new team member or update an existing one. Cost splitting applies to PAYE and Off-payroll employment, as well as to new starters and existing employees.
This feature allows:
Percentage-Based Cost Allocation
Users can assign a percentage-based cost split to each team member within their company details. This allows for a precise distribution of gross costs across various categories, ensuring that every expense is accounted for correctly.
Single Category Type with Multiple Splits: The feature supports cost splits within a single category type but allows for multiple categories within that type.
The total allocation of costs must be 100.000%. If the sum of the percentage field doesn’t equal 100.000%, the user will be unable to proceed with completing the company details section.
The percentage fields do not accept values equal to 0.000%.
When all available categories (such as all Departments or all Cost Centres or all Branches, etc.) are added, the user will not be able to click on the ‘+’ button as it will be disabled.