Although, in some cases, including the amount of benefits in the payroll is optional, we suggest that it's done whenever possible, so there's a better understanding of all components of compensation by the employee. We also recommend that the payroll provides details about the payment methods actually used.
To our clients and their accountants, we provide materials with detailed information regarding our understanding of how benefits should be categorised for Payroll Processing and Monthly Remuneration Statements*.
*The recommendations presented by Coverflex should never be interpreted as binding.