Employers who work with Benepass enable their employees to spend their benefit funds simply and easily through direct card transactions or reimbursements. That spending is supported through a regular platform funding process that dynamically funds your account to ensure consistent funds availability regardless of dynamic spending habits.

Understanding spending and funding

Benepass platform funding is designed to hold a bucket of funds for your employees to spend from. The goal of Benepass' funding process is to ensure your account never runs out of funds and there are no program interruptions. Maintaining a healthy balance through platform funding ensures uninterrupted spending.

Spending is the moment of payment, when a card purchase has been made or a reimbursement paid, and funds have left the platform funding account.

Platform funding is the inflow of funds from your company to your platform funding account.

Spending and platform funding are separate actions that will contribute or deduct from the total funds available at a given moment.

They are closely related, but they are not matched. Monthly spending will not equal monthly platform funding. You will notice that platform funding and spending move in coordination; higher monthly spending may lead to higher platform funding. However, Benepass does not operate platform funding under a "dollar in, dollar out" method. 

Funds reconciliation

To reconcile all money movement into and out of platform funding accounts, the Reconciliation report is available.

This report will track all incoming platform funding payments, and credit them accordingly against your balances. It will also track outgoing card payments and reimbursements, and debit them accordingly.

You can read more about this report here: Report Guide: Reconciliation