EOR and PEO — 13 min
If you are a contractor or you employ contractors in your business, you have definitely experienced the pains of invoicing and approvals. Today, Remote has made getting paid a little easier.
While invoicing is a key part of being a contractor (and necessary to avoid misclassification pains), managing invoices isn’t easy. Doing so usually means tracking charges and payments in spreadsheets or using other software — spending precious time every month on administrative tasks to just get paid. For an HR or finance administrator, time spent managing invoices from multiple contractors at the same time can quickly add up, not to mention the time needed to make the actual payments.
Fortunately, Remote is here to help. With our new invoicing and automation capabilities in Remote Contractor Management, we take care of the paperwork so you can reclaim the time you previously spent on invoicing and approvals.
Over the last few months, we’ve been working to solve key challenges contractors and employers face on payments and approvals.
One of the most common jobs for contractors is to issue an invoice using spreadsheets or word processing software before downloading as a PDF and uploading into Remote.
Contractors can now create invoices inside Remote before submitting directly for approval.
By sharing just a few pieces of information, like a description of the services provided, the payment amount, and the bank account for payment, an invoice is automatically generated and made available to preview. From there, contractors can save and submit invoices with one click.
When contractors work with an employer on an ongoing basis or on a fixed-term contract, they still need to submit regular invoices. While the invoice content might not change, it’s still a hassle to remember when to invoice. That hassle can sometimes lead to missed payment deadlines, inconveniencing everyone involved.
Contractors can now create automatic recurring invoices inside Remote.
Within seconds, contractors can set up recurring invoices. These are automatically issued to the employer on a customizable frequency. So whether you invoice clients once a week or once a month, you’ll always be on top of your invoicing schedule.
As an HR professional, finance administrator, or even CEO, approving invoices can become a tedious task no matter how many contractors you manage. At best, it can take a few minutes; at worst, it can take hours and lead to late payments, damaging relationships with your contractors.
Employers can now automatically approve recurring contractor invoices.
We have made it easy for employers to approve recurring invoices automatically. Perfect when working with long-term contractors, it now takes just one click to approve invoices on an ongoing basis.
Payment requests are automatically generated, so you know exactly how much you’ll be paying out. As usual, submit a single payment and we’ll distribute the right amounts to every approved invoice.
We’re happy to answer all your questions related to contractor management and invoicing.
Yes. Contractors can still use invoices they’ve created in other software and upload into Remote for approval and payment. However, they won’t be able to create recurring invoices or make those invoices available for automatic approval.
Yes. Recurring invoices can be edited by contractors before the next invoice is issued. If a contractor needs to amend details, they must delete the issued invoice and start again.
No. Approved invoices are added to an upcoming payment request, which will need to be paid by ACH, SEPA, or SWIFT wire transfers. We’re looking at ways to automate these where possible and legal to do so.
From helping companies onboard and pay contractors around the world to reducing manual effort and staying compliant with international law, Remote Contractor Management makes it easy to pay and manage your global team.
Get started for free today to see how Remote can help you with contractors in 170+ countries around the world. Remote not only guarantees you the best contractor management experience, but also the best pricing in the industry: zero hidden fees, zero surprises.
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