This tab is used to store information about the details of the benefits granted within this employment contract.
Before you fill out this tab make sure that all the benefit types applicable to this employment contract are defined on the HR and Payroll > See Also > Employee Benefit Provisions form. For details, see Employee Benefit Provisions.
The "Employment Contract (create)" form. The Benefits tab
To add a new line to the list, click Add on the toolbar.
In the Provision column, select the benefits applicable to this employment contract.
The Calculation Method column specifies the method of each benefit calculation. Depending on the calculation method, the Percent/Amount column shows either the fixed amount or the percentage specified for the benefit.
The Currency column shows the currency of the benefit amount which is the accounting currency by default. If needed, you can change the currency.
The Expense GL Account column shows the expense account for recording expenses related to the benefit.
The Expense Item and Business Activity columns show the default expense item (Labor Costs) and business activity to which this benefit is related, respectively. If needed, you can select other analytics (parameters). These parameters are used by the Month-End Closing service for generating journal entries for the monthly expenses associated with the benefit.
The GL Accounts column shows a liability account selected for accumulation of the accrued benefit amounts.