By default, the system is set to monthly subscription, in which case you will be billed monthly. If you opt for an annual subscription, you will be billed for a year in advance and are therefore entitled to a 15% discount.
To opt for yearly billing, go to Settings > Subscription > Subscription Type and opt for Yearly billing.
The invoice will be generated after you run your next payroll. The amount will be based on the total number of employees you ran payroll for. It entitles you to run payroll for 12 months for that number of employees up until the renewal date. Renewal is due 12 months from the invoice date.
EXAMPLE annual subscription for a company with 10 employees:
RM 456 company fee (RM 38 * 12 months)
+ RM 960 employee fee (RM 8 * 10 employees * 12 months)
- RM 212.40 discount of 15% (RM 1,416 * 15%)
= RM 1,203.60 * 6% SST
Total payable = RM 1,275.82
If you add an additional employee after you have received your yearly invoice you will be invoiced separately for that particular employee for the remainder of the subscription. For example, if you have paid for 10 employees and add employee 11 after three months you will be billed: (RM 8 * 9 Months less 15% discount) * 6% SST = RM 64.87.
However, there will be NO refund or credit note issued should the number of employees reduce from the initial count that was invoiced, so for example if you paid for 10 employees and only run for 8 employees at any point during the year, no refund or credit note will be issued for the 2 employees.
This help article was compiled for version 0.55.2 of app.payrollpanda.my