Fields

Start date:

Compulsory. The date that a bonus period starts.

End date:

Leave this field blank if the bonus does not apply to a fixed period.

Amount:

The monetary value of the bonus.

Approved date:

The date that a bonus payment has been approved.

Open:

Select Yes for a current bonus period. When the bonus period has ended, you must manually update this field to No. Use modelling to change this field for all employees affected by this change.

Bonus Scheme Type Code:

Bonus payments can be linked to company scheme plans. For example, a company may operate a bonus scheme based on certain targets being met.