What are Payment Cycles on Deel?
When you, the client, pay for the work submitted by the contractor within a set cycle - that is a Payment Cycle. Every payment completed in Deel is tied to a cycle.
When you create a contract, you determine the frequency of payments and the first payment date.
Let's look at an example, let's say you have a contractor who should be paid weekly. You select when the payment cycle occurs during the contract creation. Your week runs Saturday to Friday with payments occurring every Friday. Moving forward, any work submitted by Friday will be paid out in that payment cycle.
What is an overdue payment on Deel?
If you, as the client, don't issue a payment for a payment cycle on time, the payment is labeled as overdue. Once a payment is marked overdue, it is separated from the standard payment cycle. Separating the payments allows you to pay both payments at your convenience. Your Deel dashboard displays payment sums.
How to process an overdue payment
To process an overdue payment, please follow these steps:
What happens when a contractor doesn't submit the work on time?
If your contractor doesn't submit work by the end of a payment cycle, they can do it afterward and add it to the previous cycle. Remember that the work submitted for past cycles will show as overdue.
Do you have more questions? Contact us 24/7 and we’ll be happy to assist you!