Expenses Setup

Expenses Setup

Nxsys Umbrella allows you to create an unlimited number of expenses groups. These expenses groups are only applicable to your umbrella employees against which they receive tax relief. 

Tax relief helps lower the amount of income you get taxed on by subtracting your work-related expenses from your earnings. This reduces your taxable income, meaning you pay less tax. That’s why these expenses are often called "tax deductible" or "allowable" expenses.

To create Expense Groups 
  1. Click on Companies
  2. Click on Payment Models and Select Umbrella and Click Save
  3. Open your company
  4. Click on the Expenses Tab 
  5.  Click on Add New Expense
  6. Create an Expense Code, 
  7. Enter an Expense Name
  8. Select a VAT rate if applicable
  9. Click Save 
  10. Click Save again on the company view

Where an umbrella or umbrella hybrid employee needs to submit mileage expenses, you do not need to setup any expense groups as these are built into the system. 




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