At least one claim type is needed to let your employees start using Swingvy Claims. There is no default claim type in this setting as we understand every company has their policies on the type of claims.
Setting up claim types
- The employee must have paid for or incurred expenses while performing services as an employee, and there must be a business connection to the expenditure.
- The employee must adequately account for these expenses within a reasonable time period. Receipts need to verify the date, time, place, amount, and what the business expense was for.
- The employee must return any excess reimbursement or allowance within a reasonable time period. For example, if an employee is provided $20 to purchase office supplies, and the actual expense was $17, the employee needs to return the $3 to the business.
How do I begin creating a claim type?
Once you are ready, click "Add claim types". Follow these guidelines:
Learn more about claims types:
TitleThe title is the name of your claims. These are three types of reimbursements that are common in most organisations:
- Business Expense Reimbursement
- Auto Mileage and Travel Reimbursement
- Medical Expense Reimbursement
1) Business expense reimbursement
The main type of claim is business expense reimbursement. These are expenses incurred by an employee for business purposes.
- Business travel
- Education or training
- Business supplies
- Business tools
- Miscellaneous business-related expenses
2) Auto Mileage and Travel Reimbursement
The second main type of employee reimbursement is for auto mileage and travel expenses. Technically, this is a type of business expense reimbursement. However, there are some specifics to note on.
- Standard Mileage Rates. Most businesses use standard mileage rates when reimbursing employees for personal automobile travel.
- Per Diem Travel. If employees are travelling away on business, the business can offer a fixed “Per Diem” allowance for lodging (excluding taxes), meals, and incidental travel expenses.
3) Medical Expense Reimbursement
The third main type is medical expense reimbursement. There are a few different types of medical expense reimbursement plans, and their usage (and tax benefits) vary.
1. No limits
2. Per claim limits
There are usually limits on the amount of money that can be paid per claim. This would refer to the maximum amount of money your employee can claim.
Reimbursement is compensation paid by an organization for out-of-pocket expenses incurred or overpayment made by an employee, customer, or another party. Reimbursement of business expenses, insurance costs, and overpaid taxes are common examples.
1. Direct payment
Payment is excluded from payroll.
Payment will be paid together when processing month-end payroll.
Managing claim types
Once the claim type is published yes, you still can manage it by edit or delete. However, once it is eliminated, you won't see it again on the reimbursement page.
Here is the step to edit or delete your claim type:
How to edit my claim type?
Once the claim is edited, all of the past reimbursement claims will also be affected.