What are Payment Terms?
Payment terms on Worksome refer to the agreed-upon timeframe within which a client must pay for the services provided by a worker. These terms are an essential part of the contract between the client and the worker.
Gross Payments Direct to Worker (Outside IR35/SOW/Self Employed Sole Trader)
PAYE/Inside IR35
Umbrella
1099
W2
Gross Payments Direct to Worker
Payroll via Third-Party Provider
Gross Payments Direct to Worker
Available Payment Terms
Worksome offers several payment term options for clients, which are determined through contract negotiation. The available payment terms include:
8 days
14 days
30 days
45 days
53 days
60 days
75 days
How Payment Terms Work
Worker Submits Payment Request: After completing work, the worker submits a payment request through the Worksome platform.
Client Approval: The client reviews and approves the payment request.
Invoice Generation: Worksome automatically generates an invoice based on the approved payment request.
Payment Processing: The client must pay the invoice within the agreed-upon payment term.
Worker Payment: Once Worksome receives payment from the client, the funds are processed and transferred to the worker.
Important Notes
Payment terms start from the date of invoice generation.
Some clients may have special arrangements, such as factoring, to ensure timely payments to workers.
Workers are typically paid 14 days after submitting an approved payment request, regardless of the client's payment terms.
For specific payment arrangements or concerns, always refer to your contract or contact Worksome support.
Currency and Payments
Worksome supports contracts in multiple currencies, including:
GBP
EUR
USD
AUD
CAD
SGD
DKK
NOK
AED
However, payments to workers are typically made in their local currency, regardless of the contract currency.
Responsibility
While Worksome facilitates the payment process, both clients and workers need to understand and adhere to the agreed-upon payment terms to ensure smooth financial transactions and maintain positive working relationships.
How Will My Payment Be Processed?
UK 🇬🇧
1. Gross Payments Direct to Worker (Outside IR35/SOW/Self Employed Sole Trader)
Once payment is ready, it will be processed in the next pay run. Our pay runs occur every working day in the afternoon (Monday-Friday, excluding bank holidays).
You will receive a confirmation email once the payment is processed.
Funds typically reach your bank account the same day or the following morning.
2. PAYE/Inside IR35
Once payment is ready, it will be processed in the next payroll. Our payroll runs every working day in the afternoon (Monday - Friday, excluding bank holidays).
You will receive your payslip via email.
Funds are processed shortly after the payroll run and usually reach your bank account the same day or the following morning.
3. Umbrella
For workers paid via an umbrella company:
Payments are processed in the next pay run, conducted every working day in the afternoon (Monday - Friday, excluding bank holidays).
You will receive a confirmation email once processed.
Funds typically reach the umbrella company’s account on the same day or the following morning.
US 🇺🇸
1099
Once payment is ready, it will be processed in the next pay run.
Pay runs occur daily (Monday-Friday, excluding public holidays).
You will receive a confirmation email upon processing.
Funds typically arrive in your bank account the same day or the following morning.
W2
Payments for W2 employees follow a set payroll schedule:
a. W2 - Worksome Payroll
Regular payroll runs on Wednesdays, with payments processed by Friday (excluding public holidays).
You will receive a confirmation email after processing.
Funds typically reach your bank account two business days after processing, depending on your banking institution.
b. W2 - Worksome External Payroll
Where Worksome is not the employer of record, the timing of when you receive your payment is entirely dependent on the third party. The employer of record will handle the payment following their own internal processes and schedules.
Australia 🇦🇺
1. Gross Payments Direct to Worker
Payments are processed in the next pay run, which runs every working day (Monday - Friday, excluding bank holidays).
You will receive a confirmation email upon processing.
Funds typically arrive in your bank account the same banking day or the following morning.
2. Payroll via Third-Party Provider
For workers under AU payroll, payments are managed by our partner CXC.
Payment schedules and timing depend on the employer of record's internal processes.
For detailed timing information, please refer to CXC directly.
EU/Rest of World 🗺️
1. Gross Payments Direct to Worker
Payments are processed in the next pay run, conducted every working day in the afternoon (Monday - Friday, excluding bank holidays).
You will receive a confirmation email once payment is processed.
Funds typically arrive in your bank account the same banking day or the following morning for domestic payments, and up to 3 business days for international payments.