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An introduction to People Costs
An introduction to People Costs

Easily forecast payroll costs automatically using Float’s intelligent suggestions.

Cameron Livingstone avatar
Written by Cameron Livingstone
Updated over a week ago

Please note: the Payroll Costs feature is only available to new customers who have joined Float after the 4th of September, 2023. We are working hard to bring this out for existing customers soon.

People Costs will automatically budget for your Payroll, Tax and Pension costs. We do this by combining all of your payroll accounts and add a repeating cost based on your previous months payroll costs.

Automatically budgeting for your payroll costs helps you save time on forecasting and allows you to focus on answering those important ‘what if’ questions about different scenarios like, can I take on a new hire?

We value your feedback to enhance our product. If the forecasted amount isn’t quite right or we are missing something useful, use the Give Feedback link to let us know how you would improve Payroll Costs and what you want to see next!

Where does this live in my cash flow?

You will find Payroll Costs within the Cash Out section of the Cash Flow tab as ‘Payroll Costs (created by Float)’.

Where can I manage my payroll costs?

Clicking into the Payroll line or the People Costs tab will take you to the People Costs tab which highlights the forecasted amount, occurrence and what’s coming soon.

What if my payroll costs change?

Float will update this recurring cost automatically going forward.

When does Float expect payroll costs to occur?

Payroll costs repeat on a monthly basis and occur on the last day of each month.

What if the figure doesn’t look right?

This may be because Float has missed a payroll cost. Float automatically groups all cash out accounts that look like Payroll accounts. You can manually edit the payroll costs Float uses to automatically budget by visiting the People Costs tab, then selecting ‘X payroll accounts’.

How can I add additional people costs?

You can still create budgets for People Costs on the Cash Flow table by clicking +. This allows you to quickly explore people related scenarios, such as taking on a new hire.

How do I opt out?

If you don’t like what you see in this first release, don’t worry! You can opt-out by navigating to the People Costs tab, selecting Settings (top right) and then clicking on Opt out.

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