Important information about QuickPay
- QuickPay fees applies only to the factored jobs
- QuickPay fees applies only to the contractors without factors
- If you send a job via a TMS, ensure the payable amount being sent to Denim does not already have the QuickPay fee applied. Denim calculates and removes the fee from the payable based on your saved settings.
- Contractors can elect for instant payment. See our Contractor-Elected-QuickPay help article for more information
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QuickPay overview
Denim’s QuickPay feature is designed to save you as much time as possible, while opening up the ability to add multiple types of QuickPay fees that your contractors can choose from. Please note that 100% of the QuickPay revenue goes to your advance!
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A contractor's QuickPay fee settings
You can add the QuickPay fee in the contractor's Days-to-Pay settings. This means that for each contractor, you can include a unique or different QuickPay fee that will automatically be reduced from the payable. (Please see Contractors: Days-To-Pay settings for more details.)
When you save this fee, Denim automatically applies it to all the jobs with this specific contractor. When you add a new job or edit a job involving this contractor, you can change the fee, or change the Days-to-Pay, as required.
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See QuickPay fee in the job details form
When you add a new job, or edit job details, you can see that Denim deducts the Adjustments and QuickPay fee from the Contractor Invoice Amount field. Please see Add a new job for more details.)
Adjustments are removed before the QuickPay fee is calculated and subtracted, for example as below.
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Global QuickPay fee settings for all contractors
In the global settings, you can define the your Days-to-Pay and QuickPay settings for all the contractors. In Settings, the Direct Payments to Contractors tab shows these settings. (Please see Global Settings: Payment settings for contractors for detailed instructions.)
For example, you can have certain contractors paying 5% for 1-day QuickPay, and others paying 3% for 1-day.
💡Note: If you edit the terms and fee amounts to match an existing configuration, the settings are merged.
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See contractors for the same QuickPay fee setting
In the global settings, you can see all the contractors for a specific QuickPay fee settings. In the list of contractors, click on the number in the Contractors column.
The contractors with that particular QuickPay fee show in the list of contractors. Denim uses the appropriate filters to show all contractors with this same days-to-pay and QuickPay selection.