By default, benefit cycles in Factorial reset on the 20th of each month. However, many companies operate on different internal cycles. This article explains how you can now customise the benefit cycle reset day to align with your company’s needs and ensure accurate payroll and benefit management
Overview
This functionality allows you to set a personalised date (between the 1st and 28th of each month) for resetting benefit cycles, including meal and transportation benefits. This ensures that transaction summaries and balance renewals align with your internal operations.
When and why it should be used
Use this feature if your company’s payroll or benefits operate on a cycle different from the default 20th of the month. Benefits include:
- Ensuring payroll-impacting data is ready on time
- Reducing or eliminating manual adjustments
- Aligning benefit cycles with your internal processes
How to use
By default, benefit cycles reset on the 20th of the month.
- On your sidebar, go to Settings
- Access the Benefits section
- In cycle closure, configure the closure date for the cycle
- Save the setting
- If you already have enrolled employees and the setting is disabled, you can still request a change through a chore (contact support / your AM). Be aware that during the transition, some cycles may be shorter or longer as everything aligns.
You’ll also see a link to this setting within Benefits settings, so you can access it from there too.
Tips and best practices
- Choose a reset day that ensures all payroll and benefit-related approvals are completed beforehand
- Consider aligning the reset day with your internal payroll cut-off date to reduce manual work
- Communicate the new cycle reset date to all relevant teams to prevent confusion
- If making a change when people are already enrolled, plan for a transition period, since benefit cycle lengths may temporarily vary.
Benefit balances may appear incorrect after the reset if all transactions from the previous cycle were not completed before the new reset day.
Transaction summaries may not match the new cycle if the custom reset day was not applied correctly; confirm with Factorial Support, as changes may take one cycle to fully reflect.
FAQ
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Can I set the reset day to the 29th, 30th, or 31st?
No, currently the reset day can only be set between the 1st and 28th of each month.
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Will this affect past cycles?
No, the custom reset day only applies to future benefit cycles.
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What if my company already has enrolled employees and the custom reset day setting is disabled?
You’ll need to contact our support or your Account Manager to request it. Be aware that during the transition, there may be a shorter or longer benefit cycle.