Getting contractors paid through Remote just got easier. It is now possible to enable automatic approval and payment for contractors' invoices. At the moment, this feature is only available to customers whose billing currency is in USD or EUR and have either Direct Debit or credit cards set up for payment. We are working towards adding more currencies soon!
See also: Paying contractors through Remote
To set up automatic invoice approval and payment:
- Go to the Company Settings tab on your Remote dashboard and go to the Payments page. On this page, you'll find the Auto-pay contractor invoices card.
- When the drawer opens up on the side, you will be able to:
- Set a daily limit for automatic payments. This limit is per contractor per day. If the sum total of the contractor's invoices submitted for payment exceeds their daily limit for automatic payments, the invoices will instead have to be approved manually. For example, with the daily limit set at $5000 per contractor per day, if Sarah submits three invoices totaling $4500, they will all be approved and paid for automatically.
See also: How to approve and pay contractors' invoices - Choose which contractors' invoices you'd like to be approved and paid for automatically.
- Set a daily limit for automatic payments. This limit is per contractor per day. If the sum total of the contractor's invoices submitted for payment exceeds their daily limit for automatic payments, the invoices will instead have to be approved manually. For example, with the daily limit set at $5000 per contractor per day, if Sarah submits three invoices totaling $4500, they will all be approved and paid for automatically.
It's important to note the following:
- For contractors whose invoices have been set to be paid out automatically, the invoices are processed the day after they've been submitted. On the contractor's end of the platform, the invoice status will be switched from Payment Due to Pending Payment and it will follow the normal Billing flow as we have for manually approved invoices.
See also: How long each payment method takes
- Invoices that got submitted before the automatic approval setup will still need to be manually approved.
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