All About Pay and Bill Settings in Vincere
The Pay and Bill Settings in Vincere allow you to manage various aspects of compensation, invoicing, job templates, and system configurations. This guide provides detailed instructions on how to navigate and utilize these settings effectively.
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Invoice Settings
3.1 Default Settings
3.2 Accounts
3.3 Tax
3.4 Pay Codes
How to access Pay and Bill Settings? 🤔
To access Pay and Bill Setting please navigate to Settings > Pay & Bill Settings
⭕ Settings Overview
Settings: Manage all your compensation settings
Invoice Settings: Default settings for invoices, account management, and taxes.
Decimal Numbers in Compensation: Choose the number of decimal places for job compensation and fees.
Home Currency: Set your company's home currency.
Job Template Required for Temporary Placements: Ensure job templates are mandatory for temporary placements.
⭕ Detailed Settings
Config Table
The Config Table is your go-to spot for managing various general settings within the Pay & Bill system.
Search Bar: Quickly find specific items.
Sync to Timetemp: Sync your configurations with Timetemp.
Create New Item: Add new items with necessities like Country, State, Type, Name, and Code.
Edit Existing Items: Use the pencil icon in the action column.
Delete Items: Use the red trash icon to remove items.
Job Templates
Job Templates help streamline the setup of new jobs, making your work easier and more efficient.
Search Bar: Find specific templates quickly.
Create New Template: Click to create new job templates such as Settings template, Rate Card, On-Costs, Time Interpretation, Search, PTO, and Profit Calculator.
You also have the option to grant permission to the user to edit the above templates.
💡 Quick Tip: You can enable edit mode on the job or placement by changing the template name to "Custom" and the fields will become editable.
PTO (Paid Time Off)
As an admin, you can change the PTO Settings.
Profit Calculator
Profit Calculator: These settings form the basis for total contract pay calculations. Configure working hours per day, working days per week, working hours per week, working days per month, and working weeks per month.
These numbers for the basis for total contract pay calculations in the contract Comp and Fees, you can configure working hours per day, working day per week, working hours per week, working days per month, and working week per month.
Rate Card Template
Search Bar: Find specific rate card templates quickly.
Create New Template: Adjust parameters such as Time Interval, On-Costs Applied, and Calculate Bill Rate Using.
Parameters:
Time Interval: Hourly, Weekly, Monthly, Daily, Manual
On-Costs Applied: Yes/No
Calculate Bill Rate Using: Profit, Margin %, Markup, Bill
Rates, Allowances, Loadings: Configure additional financial elements.
On-Costs Templates
Pay-Related On-Costs Including Per-Diem: These on-costs are affected by the employee's pay. Ensure they are linked to the relevant calculation and pay rates for accurate reporting.
Optional Factors (Non-Employee Related Costs): These on-costs are not affected by the employee's pay, such as admin costs. Link them to the relevant calculation and pay rates for accurate reporting.
Time Interpretation Templates
Timesheet Settings: Select the start of the week correctly for placement duration. These settings will connect to your Timetemp account.
Pay Rules: Set up your pay rules for pay rates here. Connect with Timetemp for interpreting times. Define pay rule names, pay code, periods, rules (Under, Above, Between, Part of day), and hours.
Search Templates
In this section, you can view and manage all your existing search templates. Here’s how you can make the most of it:
Viewing Templates:
All existing search templates are listed here for your convenience.
Use the search bar at the top to quickly find the template you need.
Editing Templates:
Select a template from the list to view its details.
You have the option to edit any template to suit your current needs. Simply click on the template and make the necessary changes.
By utilizing the search and edit features, you can efficiently manage your search templates, ensuring they are always up-to-date and relevant to your needs.
Umbrella Companies
Search Bar: Find specific umbrella companies quickly.
To add new umbrella companies you can click on the Create New Item button located on the up right on the screen.
⭕ Invoice Settings
Default Settings
Invoice ID: Combination of Prefix and Number (e.g., INV001). Incrementally increased by Vincere. Editable on the Invoice details page.
Default Invoice Terms: Set when a draft invoice is created.
Amount/Rate Number Format: Choose to use or not use decimal numbers.
Branding: Customize invoice details per brand. Configuration here will be applied to invoices in Document Builder.
Weekly Period: Set the weekly period (Mon-Sun or Sun-Sat).
Generating On-Costs in Purchase/Self-Bill Invoices: Choose to show total amount or breakdown on-costs per pay level. Useful for detailed employee payment checks.
Invoice Account Override: Control where account field information is sourced from. Options include Billing Location or Placement information.
When the default "Do not allow account override" is selected, the account field will pull from Billing Location.
When "Allow account override" is selected, the account field will pull from Placement information.
By default, Vincere will not allow account override for Invoices. To change this, select "Allow account override".
Default Sales Tax: Set tax statuses associated with account codes or apply default sales tax for sales invoices.
Invoice Generation: Choose to generate invoices automatically or manually.
Accounts
Search Bar: Find specific accounts quickly.
To add new financial accounts and set default tax rates you can click on the Create New button
To enable/Disable Accounts in Payment update just simply tick the box of the account then click on Save.
Delete Accounts: Use the red trash icon.
Tax
Search Bar: Find specific tax settings quickly.
To Add new tax rate and set tax percentages you can click on Create New button
Delete Tax Settings: Use the red trash icon.
Pay Codes
Pay Codes Configuration: Manage pay levels and overtime settings.
Simply navigate to Compensation Page through Settings > Pay & Bill Settings > Edit Settings > Config Table > Filter Type by Pay levels & overtime.
Edit Pay Codes: Use the pencil icon in the action column.
Toggle Editability: Allow or disallow users to edit Pay Codes from the Invoice details page.
⭕ Decimal Numbers in Compensation
Determine number of decimal places in Job Comp & Fees tab: Choose between 2 decimal places or up to 4 decimal places for compensation details.
2 decimal places (Example: 1.00)
Up to 4 decimal places (Example: 1.8722)
Consistency: The selected format will be applied throughout the system. All consultants will see the same format.
⭕ Home Currency
Set Home Currency: Define the primary currency used for financial transactions and analytics.
📝 Important note:
If you change your home currency frequently, please bear in mind that you should go back to previous placements and invoices to update their Bank Spot Rate.
⭕ Job Template Required for Temporary Placements
Toggle Requirement: Enable or disable the mandatory job template requirement for temporary placements.
Conclusion
Utilizing these settings ensures accurate and efficient management of compensation, invoicing, and job templates within Vincere. If you need further assistance, feel free to reach out to our support team.
Happy managing! TheVinnyWay🤩