How does compensation for receipts work?

You can enable adding receipts in your company's Stebby account from the "Compensations" view by clicking "Change plan" on the certain compensation plan you would like to change. The last option in the categories is "Receipts", which must be turned on. How to change the details of the compensation plan?

If the company allows employees to add receipts, a new sub-menu "Receipts" will appear on the employee's profile. To add a receipt, the employee must fill in the necessary information (the receipt's description, personal bank account, etc.) and attach an image or file of the receipt (preferably in PDF format) to the system.

The attached receipts will appear to company administrators under the subheading "Receipts" under the company account.

The receipt must be added by the employee in the month for which the amount will be deducted from the compensation (i.e the amount of the receipt will not be deducted from the compensation of the previous month or in the new month). The amount of the receipt must be the amount that the employee wishes to be compensated. The environment automatically takes into account the employee's compensation plan, which means that the maximum receipt amount is the remaining funds of the employee's compensation.

At the time when the receipt is added, the corresponding amount of the employee's compensation will be reserved and if the employer rejects the receipt, the money will be returned to the employee's Stebby account. If the receipt is rejected, the reason for the rejection may also be given.  A rejected receipt cannot be restored.

The company administrator needs to mark whether the service is a tax exempt service or not. Information on this can be found on the Tax and Customs Board website. This is especially important if the company only compensates tax-free services. In this way, the Company can avoid the tax risk associated with the fringe benefit tax law.

After the employer confirms the suitability of the receipt, the compensated amount is transferred to the bank account given by the employee (the employee's personal bank account) within a week and the amount is deducted from the Company's account balance.

Please take notice that the request for compensation based on a receipt will time-out after a certain period of inactivity! On the 15th of each month, receipts added in the previous month that are not approved or rejected will be automatically rejected due to the time-out.