Below is a description of what allowances and expenses are. The steps to guide either a Super Admin or a Team Member to file for any of these through the Oyster platform are linked below.
- Allowances are benefits given to team members. These are generally recurring payments included in the team member's contract (e.g., Work from Home Allowance or Travel Allowance). Allowances are taxed according to the law in the specific country. Please refer to our Benefits advisor to learn more about statutory benefits for team members.
- Expenses are costs that team members initially pay out of pocket to be reimbursed by the company. These might be recurring (e.g., internet) or one-time expenses (e.g., travel, office equipment) and, are generally not taxed.
Who can submit expenses?
On the Oyster platform, both team members and company admins can submit expenses.
As a Super Admin on the account, expenses can be submitted on behalf of a Team Member. You can also undo an expense approval if needed. If you need to delegate the task of approving expenses, you can do so by adding an expense approver on the platform. Once added, you can approve the expenses through the platform.
As a Team Member, requesting an expense reimbursement can also be done by logging in to their account on the platform.
When do expenses need to be submitted?
Regardless of who submits the expenses, it is important to take note of cut off dates to know when you can expect the credit on the Team Member's account.
What is needed when submitting expenses?
All expenses should be submitted with a clear copy of the receipt. The amount is always the net amount (the exact amount the team member paid and expected to be reimbursed for). Our guidelines for submitting receipts will be helpful when processing requests.