Invoices Categories

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Invoices Categories

THE BASICS
GLOBAL EMPLOYMENT: LANO 2.0
Which Lano is for you?Manage Users and Assign RolesInvoices CategoriesInvoicesRequest Termination or Report a ResignationEmployee ProfileEdit Hiring DetailsHiring FlowHire a New EmployeeEstimate the Cost of a New HireUpdate Company DetailsRegister on the Lano Platform

Learn how to differentiate invoices categories

Here are some common categories of invoicing and a brief overview of each:

  • Base salary: It is a fixed sum of money, paid on a regular basis (typically monthly) for the services the employee performs.

  • Social costs: The employer is required to withhold these taxes from the employee’s earnings, and these costs vary by country.

  • Bonus agreements: Extraordinary payments made to the employee to compensate or reward the employee e.g., it can include (sign-on bonuses, commissions, severance payments, compensation, benefits etc.)

  • Expenses: Extraordinary payments made to the employees to reimburse them for expenses incurred or salary foregone e.g., (Vacations,temporary leaves,travel or other types of expenses, maternity / paternity leave, sick leave, etc.)

  • Accruals: Accruals required to be built up for potential future payments e.g., 13th/14th salary accruals, holidays accruals, etc. 

  • Subsequent Adjustments: Adjustments to salary components made with the regular payroll of a subsequent month. 

  • Allowances: A sum of money granted as a benefit or compensation for an expense incurred e.g., car allowance, travel allowance, teleworking allowance, medical allowance etc.

  • Deposit: A sum of money paid and held as security against potential future obligations.

  • Accrued severance deposit: An accrual for potential future severance payments to the employee in case of termination.

  • Social contributions & insurances: Payments made as contributions towards insurance or other tax / social security charges e.g., health, sickness or accident insurance or pension contributions.

  • Service fees: Fees charged for the EOR service e.g., (regular service fees, immigration fees, setup fees or transaction fees, payroll change fees etc.)

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