Relocation Expense Management
Corporate employers are finding it increasingly difficult to set up vendors, and get satisfactory, regularised payment systems going when it comes to their expatriate staff. The vendors typically include estate agents, individual landlords, plus possibly utility, educational and other service providers, most of whom will have to be specially loaded as vendors in the client’s AP system. Individual landlords are often resistant to completing the extensive vendor and BBBEE forms necessary. The client HR and accounts staff are required to timeously make, and keep detailed records of, many payments over the entire period of the expatriates’ contracts. The costing and Income Tax reporting requirements are frequently, onerous and represent additional work to the staff involved.
- Payment service covering administrative, educational and accommodation related (rents, utilities, garden & pool services, minor maintenance and pest control) costs on behalf of their expatriate staff, obviating the requirement to load all the respective vendors into Client’s AP system, since only a single monthly payment to ECR will need to be made.
- Track lease renewals and escalations
- Make payments only according to approved HR policies
- Obviate possibility of suspension of Assignees’ services due to non-payment
- Provide monthly Expense Reporting by employee / type of cost. Provide journal-ready reports by agreed cost-centres and client’s GL codes, supported by documentation and audit vouchers
- Provide annual reports by employee for corporate reporting and Income Tax fringe benefits purposes
Services include (and tailored to client requirements and approvals):
- Monthly Payment Reporting in agreed format covering each Assignee/ property by expense type supported by audit vouchers, and specific Client approvals if outside standard policies.
- Monthly Lease Report showing: Lease details, escalation/termination dates and rates
- Annual Summary for Audit/tax purposes in agreed format
- Reports can be electronic and/or Data Capture ready