What are the payment terms?

Article author
Nneka
  • Updated

For a month’s payroll, we will follow a 2-step invoicing process:

  1. On the 1st working day of the month, we issue a Pre-funding invoice.
    • This is used to cover payroll costs for the month.
    • You have 14 days to make payment.
  2. Around the 5th of the following month, after analyzing your actual costs for the billing period:
    • If your Pre-funding invoice amount was lower than the actual costs incurred, we will issue a Reconciliation invoice for you to pay the difference; you will have 14 days to make payment.
    • If your Pre-funding invoice amount was higher than the actual costs incurred, we will issue a Reconciliation Credit to be applied to your next invoice.
    • If your Pre-funding invoice amount exactly matches the expenses incurred during that billing period, we will issue a 0 total reconciliation invoice, and no further action is required on your end.
To ensure pre-funding of the payroll run for employees, timely payment of invoices is required. In the event of nonpayment of invoices within stated terms, Remote will be taking increasing escalation measures as determined by the overdue nature of your account, such as pausing the ability to:
  • Hire new Employees
  • Approve expenses
  • Add incentives
  • Request Contract amendment
  • Offboard your Remote employees

Note: If you incur charges for any value-added services (i.e. off-payslip costs) like health checks, termination and legal fees, and a-la-carte mobility services, these will be invoiced separately on the 1st of the following month and due within 14 days.

See also: How does Remote invoice for value-added services (i.e. off-payslip costs)?

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