By default, benefit cycles in Factorial reset on the 20th of each month. However, many companies operate on different internal cycles. This article explains how you can now customize the benefit cycle reset day to align with your company’s needs and ensure accurate payroll and benefit management
Overview
The Custom Benefit Cycle Reset Day allows you to set a personalized date (between the 1st and 28th of each month) for resetting benefit cycles, including meal and transportation benefits. This ensures that transaction summaries and balance renewals align with your internal operations.
When and why it should be used
- Use this feature if your company’s payroll or benefits operate on a cycle different from the default 20th of the month. Benefits include:
- Ensuring payroll-impacting data is ready on time.
- Reducing or eliminating manual adjustments.
- Aligning benefit cycles with your internal processes.
How to Use
By default, benefit cycles reset on the 20th of the month.
To request a custom reset day:
- Contact Factorial Support and specify the day of the month (1–28) you want for your cycle reset.
- Factorial Support will configure your account to reflect this new reset day.
- Once set, your benefit balances and transaction summaries will follow the new cycle.
In the near future, this setting will be available directly in your Factorial account for self-service adjustments.
Tips and Best Practices
- Choose a reset day that ensures all payroll and benefit-related approvals are completed beforehand
- Consider aligning the reset day with your internal payroll cut-off date to reduce manual work
- Communicate the new cycle reset date to all relevant teams to prevent confusion
Benefit balances may appear incorrect after the reset if all transactions from the previous cycle were not completed before the new reset day.
Transaction summaries may not match the new cycle if the custom reset day was not applied correctly; confirm with Factorial Support, as changes may take one cycle to fully reflect.
FAQ
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Can I set the reset day to the 29th, 30th, or 31st?
No, currently the reset day can only be set between the 1st and 28th of each month.
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Will this affect past cycles?
No, the custom reset day only applies to future benefit cycles.
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When will I be able to set the reset day myself in Factorial?
This functionality will be available soon within the product. For now, contact Factorial Support to request changes.