At the end of the FY, the Admin / User need to process the unclaimed FBP amounts and pay them to the Employees as Taxable.
Go to Transactions menu >> Under Flexible Benefits >> Click on Reconciliation
- Here, the Admin / User can view Total Eligibility, Total Claimed Amount and Unclaimed Amount of all the Employees
- Click on the link under “View/Edit” column against each Employee, one by one; a detailed component-wise statement can be viewed.
Process Unclaimed FBP
On processing unclaimed FBP amount, it would be paid as taxable components with salary in the month of March i.e., end of Financial Year.
Before processing unclaimed FBP, ensure below things are taken care;
1. Unclaimed Reimbursement component should be created
2. Till March all FBP claims has to be proved and FBP should be locked/closed under Process >> Control >> FBP Reimbursement
Note: For now, unclaimed FBP can be processed only at the yearend after closing the FBP month of March
Click on Process Unclaimed FBP button to run the unclaimed FBP and process payroll and then check the salary statement.