Guaranteed payouts for single and bulk scheduled invoices on Remote

We now guarantee payment to contractors when customers create new schedules for individual contractor invoices. This also applies if a customer schedules bulk invoice uploads for their contractors. Remote will guarantee that contractors receive the full invoiced amount in their preferred currency and protect contractors from currency fluctuations.

This article covers the following topics:

• What the employer sees when creating a single scheduled invoice
• What the employer sees when creating a bulk scheduled invoice via CSV?

What the employer sees when creating a single scheduled invoice

When creating a new invoice for the contractor, customers can now choose between the customer’s billing currency and the contractor’s withdrawal currency.

If the contractor’s withdrawal method is SWIFT USD, the customer can easily select who bears the SWIFT fees from their company setting tab however, if the Contractor uses a different currency, then the contractor bears the SWIFT fees.

See also: When do you need a SWIFT transaction?

The complete fees applicable to a transaction can only be determined when the contractor's withdrawal method is known, influencing the final amount received.

What the employer sees when creating a bulk scheduled invoice via CSV?

When uploading a CSV file for creating bulk scheduled invoices, several standard validations take place. These validations are designed to ensure the accuracy and consistency of the data being uploaded. 

See also: How to create a scheduled contractor invoice

The guaranteed payout information is now displayed when invoices are created from the schedule and contractors withdrawal method selected.