With Denim you can set rules on a contractor-relationship basis for default days to pay. This is useful for contractors where you've negotiated a specific payment term other than QuickPay, and for contractors who have a factor and don't need to be paid with quick pay.
Once you set a default days to pay for a contractor, any job you add for that contractor will automatically have the contractor payment date adjusted using your days to pay setting. This applies to jobs added directly in Denim and jobs added via TMS integration.
Setting a default Days to Pay
You can create a days to pay setting in the Contractors page by clicking the Actions icon, then clicking the Edit Days to Payment button.
Once you've clicked the Edit Days to Payment button, you'll see a radio select option to customize your days to pay, and then an input field where you can enter the number of calendar days you'd like to delay payment.
Notes about setting a days to payment offset, and how it's calculated:
- Delays can be set from 2 to 55 days.
- The number you enter is saved as calendar days and not business days.
- The Days to Payment delay is calculated from the invoice date you set when processing the job.
- Invoice date defaults to today's date when processing a job, but can be adjusted on the Add/Edit Job page to match the invoice date on your contractor's invoice.
- If the adjusted payout date falls on a weekend or bank holiday, Denim will process payment on the next business day.
- For example, if you've set a custom days to pay delay of 15 days, Denim will count 15 calendar days from the Invoice Date and process payment on that day. If that day is a weekend or holiday, Denim will process payment on the following business day.
You can always see the date a contractor will be payed by checking the Payment Date field on the Add-Job page, or by looking at the Due Date column on the contractor's payment in the job details view.
Creating Jobs in Denim
Denim will still default to QuickPay on all jobs, unless a contractor with a customized Days to Pay offset is selected. Once you selected a contractor that has a customized Days to Pay, we will automatically update the Payment Date field with the calculated date.
- The Payment Date field is disabled when a customized days to pay offset is being used, to avoid accidental adjustments to the payment date
- If you need to adjust the Payment Date, changing the invoice date will adjust the Payment Date.
TMS and Imported Jobs
Days to Pay offsets also apply to jobs pushed from an integrated TMS, or imported using a CSV upload. Denim will automatically calculate and update the payment date based on your contractor settings and the provided invoice date. If the provided dates are in the past and the calculated payment date would also be in the past, Denim will pay on the next available funding day.
You can check the payment dates in the Job Details view after you have saved or submitted the jobs by clicking the job in the Jobs Board.