What are actuals, estimates and true-ups on an invoice?

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To view the details of your invoice, simply log in to the OysterHR platform. Once there, you should be able to access the Finance section and view your invoices. There is also an option to download the invoice breakdown to see the details of the charges.

 

Definition of terms

Each invoice may contain at one or more of the following. 

  • Actuals is used when we have already received the finalized payroll data before our invoicing cut-off date.
  • Estimates are used in instances wherein we receive the finalized payroll data after our cut-off date, estimated payroll data will be included in your invoice. Using estimated data ensures that billing is completed on time. Note that the Team Member will be paid correctly as by the time pay-day arrives the payroll data is finalized. The estimated payroll data is generated by the Oyster Platform which provides us with a reliable estimate of what the team member’s payroll should be.
  • True-Ups happens when payroll has been wrapped up for the month our payroll team compare our estimated payroll values against the finalized payroll data. Any variances will be included as a true-up in the subsequent month’s invoice. We are striving to be as accurate as possible in our estimations, but we’re also transparent about the complexity of global payroll; this is particularly true for employer taxes and contributions where true-ups are most common.