In this article, you will learn about
- How to set up or edit the payment settings for a contractor
- Different use cases of payment settings depending on the contractor account status and progress
- The actions you can take for the payment settings
- Answers to some common questions about contractors
Denim understands that ensuring timely payments in your Denim account is so important for your business goals. You can request changes to the payment settings, any time.
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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.)
For any contractor in the list, you can see the payment setting type, payment method, and other details.
Click on the contractor row, and the details open in a modal.
If contractor already have a factor assigned
If your contractor already has a factor assigned, the contract details show the following actions.
Click on the Update Payment Details (Pay Contractor Directly) button. The Edit Contractor Data form opens.
Enter the details including a valid phone number and email address. They receive confirmations and notifications on this email address.
Click on Next to continue. The Update Payment Details form opens. (Please see Setup Payment Methods for more details.
If contractor does not have a factor assigned
For such a contractor, choose from the options below.
If you need to resend an invite to a new contact
Select Edit Contractor Invite if you need to resend the invite to a new email or person.
Select Update Payment Details to add new ACH banking info, or an address to Pay by Check. Again, remember to include a voided check for ACHs. If the contractor would like to receive checks, include an invoice with mailing address.
Select Request Factor Assignment if you would like to make sure a factor is paid instead of direct payment to the contractor. Upload the factor's Notice of Assignment and a Letter of Release from a previous factor, if applicable.
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[VG: I am not sure why we are explaining Request Factor Assignment below in this payment settings article.]
