Contractor Pay - Payments Made Easy!
Last modified 7/15/2020 7:59:59 AM EST |
Added by Paywow Team
Learn how to pay and manage your contractors in a few easy steps.
Select Payment Method
Choose your preferred mode of payment to pay your contractors, which is 'Check' or 'Check & Direct Deposit'. If you choose 'Check & Direct Deposit' as the payment method you will be able to make payments only after your business documents and bank account is verified.
Quickly onboard contractors to your account by filling in a few basic details. Further, you can send them an email invite to use myPayWow- a self-service app and portal designed for contractors. To learn how to add a contractor, click here.
Have your contractors complete their W-9s by sending them an email invite complete through myPayWow. If you have a signed copy of the form, you can as well upload it.
E-sign Authorization Documents
Before proceeding to pay your contractors, you have to e-sign a few documents:
- Direct Credit/Debit Authorization Form: Authorizes PayWow to credit and debit amount from your bank account.
Submit Supporting Documents
You need to submit a few supporting documents for PayWow to verify your business, which you can do it through the Verifier app. Here's a list of the documents that you are required to submit:
- Any communication document to or from the IRS (EIN Letter, Tax Documents, or any other letters you’ve received)
- State Existence Letter that you’ve received from your state
- Full image/copy of a non-expired government-issued identification (Driver's License, State ID, or Passport)
- Proof of address (Phone Bill or Utility Bill)
Track payments and reimbursements you make to contractors using the ‘Pay Per Job’ Tracker. The best part of it is that you can customize the Pay per Job Tracker to suit your business needs. There’s also an option to review the dollar amounts before paying your contractors.
Manage Work Hours
Monitor your contractors’ work hours through the Time Clock feature available. Your contractors, when invited can record their shifts using myPayWow, and you’ll receive alerts on every action they make. If you wish to restrict the shift recording activity to a geographic boundary, geofencing can come handy.
Pay your contractors at any time by check or direct deposit - you choose! Contractors will be notified when payments are made to them and can view their payment statements in myPayWow.