Off-cycle payments allow you to process one-off payments outside your company's regular compensation cycles. In this article, you’ll learn what off-cycle payments are, when to use them, and how they help you manage payments such as adjustments, severances, and extra payments.
Overview
Off-Cycle Payments let HR admins create, manage, and process one-off payments for individual collaborators or groups outside the regular payroll schedule.
This can be useful when you need to make a payment that doesn't fit into an existing compensation cycle, such as:
- Adjustments
- Severance payments
- Extra payments
- Other non-regular payments
Off-cycle payments are available to all companies using Compensations.
How to use
Once the feature is configured, the general process is:
- In your sidebar, go to Compensation
- Click on a +New off-cycle
- Upload a file with the payroll results
- Review the payment information
- Process the off-cycle payment
If you need to make a payment outside the regular compensation cycle, use Off-Cycle Payments to create a one-off payment for the relevant collaborator or group.
Tips and best practices
- Use Off-Cycle Payments for payments that fall outside your regular compensation schedule.
- Review payment details carefully before processing an off-cycle payment.
- For companies operating across multiple countries or currencies, use the updated Cycles page to keep your compensation cycles organised and easier to navigate.
FAQ
-
What is an off-cycle payment?
An off-cycle payment is a one-off payment processed outside your company's regular compensation schedule.
-
When should I use an off-cycle payment?
Use an off-cycle payment when you need to process a non-regular payment, such as an adjustment, severance payment, or extra payment.
-
Can I create an off-cycle payment for multiple collaborators?
Yes. Off-cycle payments can be created for individual collaborators or groups.
-
Who can use Off-Cycle Payments?
Off-Cycle Payments are available to all companies using Compensations.
-
Does an off-cycle payment replace regular compensation cycles?
No. Off-cycle payments are intended for one-off payments outside the regular compensation schedule. Your regular compensation cycles continue to be used for recurring payments.