Denim allows you to set up custom Days-To-Payment settings for each contractor, or to define the global settings for all the contractors. This helps when you have negotiated with the contractors on their specific payments cycle other than QuickPay, and for the contractors who have a factor and so do not need to be paid with QuickPay.
đź’ˇNote: You can define the global settings for Days-To-Payment that apply to all the contractors by default. When you add or edit a contractor's payment terms, you can specific custom settings there for that specific contractor if it overrides the global settings for this contractor. (Please see Global Settings: Direct payment to contractors for more details.)
Once you set the default Days-To-Payment days 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 to the jobs that are added via TMS integration.
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Locate the contractor
Click on Contractors in the navigation. The list of all the contractors opens.
In the list of contractors, you can use the Filters or Search options to find specific contractors for certain conditions or criteria. (Please see See and use list of contractors for more details.)
In the Days to Payment column, you can see the Days-To-Payment setting for the corresponding contractor. In some cases, you see Express which means that Express Factoring is enabled for the contractor. (Please see Express Factoring for more details.)
Click on the contractor row, and the details open in a modal.
This modal show different options depending on the contractor status, and their payment settings if these are already defined. For example, as below.
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Edit payment terms: for Days-To-Payment settings
Click on the Edit Payment Terms button.
The Edit Payment Terms modal opens. The settings view be different for different contractors depending on whether Express Factoring is enabled for them.
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Default Terms
Select this option to apply the default payment terms for this contractor. In some cases, the Default Terms show that the settings are locked.
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Custom Terms
Select this option and a new field Days to Payment appears. Write the number of days that you want to set to make payments to this contractor.
If Express Factoring is enabled: If Express Factoring is enabled for this contractor, write the QuickPay Fee in the QuickPay Fee field.
In Express Factoring, move the settings to the right side to turnoff the Express Factoring settings in specific cases, if required. In this case, the Days-to-Payment field is available, as below.
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Save the settings
Click on the Save button to save these settings.
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How Days-To-Payment works
- The 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 you can adjust it when you add the job, or when you edit the job details, to match the invoice date on your contractor's invoice.
- If the adjusted payout date falls on a weekend or bank holiday, Denim processes the payment on the next business day. For example, if you've set a custom days to pay delay of 15 days, Denim counts these 15 calendar days from the Invoice Date and processes the payment on that day. If that day is a weekend or a holiday, Denim processes the payment on the next business day.
You can always see the payment date for a contractor at:
- In the job details page, the Pay a Contractor section shows the Payment Date. (Please see See and manage job details for more information.)
- In the Job Board, the Due Date column shows you this payment date. (Please see See and use list of jobs for more details.)
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Specific use cases for Payment 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.
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For TMS and imported jobs
The Days to Payment offsets also apply to jobs that are pushed from an integrated TMS, or are imported using a CSV upload (Please see Bulk import jobs—from CSV for more details.)
Denim automatically calculates and updates the payment date based on your contractor settings and the invoice date in the contractor-specific jobs. If the provided dates are in the past and the calculated payment date would also be in the past, Denim pays on the next available funding day. In the Job Board, locate the target job and click on it to open the job details to see the invoice date. (Please see See and manage job details for more information.)