As HR leaders, bob is your single source of truth and should reflect the entire employee view in one place. This is why many of our customers choose to track payroll and additional pay data into bob.
The Payroll category in the employee profile has several tables where all Payroll information can be found:
Salary - in this table you can store your employees' contractual base salary records.
Base salary - should reflect the employees' base salary, including both currency and amount
Salary pay period - the period for which the contractual base salary is set.
Salary pay frequency - how often actual salary payout occurs.
Variable pay - in this table you can keep a record and manage on-target variable compensation components that are not part of the employees' base salary.
In this table, you can record and manage any contractual variable pay components that are part of your employees’ compensation package, in addition to the base salary.
Variable type - the variable plan that applies to the employee (e.g. Commission, MBO, etc.)
Amount - the contractual on-target amount (and currency) that will be paid to the employee upon meeting predefined targets.
Pay period - the period for which the contractual on-target amount is set.
Actual payment - in this table you can keep records of every actual payment made to your employees. The amounts captured in this table can be one-time, non-contractual payments, such as - referral bonus, or a bonus for a special effort, or, actual payments made per an existing variable compensation plan, such as - commission payout.
Payment date - the date on which the employee becomes eligible for the payment.
Payment type - what kind of actual payment (e.g., Commission, Referral bonus,, etc.) is being paid
Amount - both the currency and the amount of the pay
Deductions - in this table you can store any recurring deductions from your employees' pay.
Start date - the start of the deduction period
End date - the end of the deduction period
Deduction - what type of deduction (e.g. loans, car allowance, meal cards, etc.)
* Please note - this list is editable and is the same one for the additional earnings table
Monthly sum - both the currency and the amount of the deduction is subtracted
Additional earnings - in this table you can store any recurring additional earnings to your employees' pay.
Start date - the start of the additional earning period
End date - the end of the additional earning period
Additional earnings - what type of additional earning the employee is eligible for (e.g. lunch vouchers, car allowance, scholarships, other benefits, etc.) -
* Please note - this list is editable and is the same one for the deduction table
Monthly sum - both the currency and the amount of the additional earning
You can now also add a custom table if you require more options for payroll records.
Here are some popular examples of payroll data storage and where to track them in bob:
Travel allowance: Additional earnings
Meal allowance: Additional earnings
Phone/internet Allowance: Additional earning
Health insurance: Additional earnings
On-target commission: Variable pay
Actual commission payout: Actual payments
Referral bonus: actual Actual payments
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