Paying your Contractors
Paying contractors on time is crucial, and Multiplier facilitates timely and faster payments. All contractor payments, such as invoices, approved expenses & pay supplements, can be initiated on the platform with a single invoice.
To pay your contractors on time, follow the below steps:
Step 1: Click on “Invoice Payments” under the “Payments” section in the sidebar.
Step 2: Select the contractor payables to be paid from the ‘Approved contractor payables’ section.
2.1: Use the filter to select the invoices/expenses/pay supplements to be paid. You can select more than one filter at a given time.
Note:
2.2: Contractor invoices must be approved in the ‘Contractor Invoices’ module under the ‘Administration’ section of the sidebar. Once approved, the invoices will appear under 'Approved contractor payables' in the ‘Invoice Payments’ module.
2.3: Contractor expenses must be added by you or your contractor using the ‘Expenses’ module under the ‘Administration’ section of the sidebar. Once approved, the expenses will appear under 'Approved contractor payables'.
2.4: Pay supplements must be added using the ‘Pay Supplements’ module under the ‘Administration’ section of the sidebar. Once added, the respective pay supplement will appear under 'Approved contractor payables'.
Step 3: Once selected, click on the ‘Pay now’ button in the top right corner or bottom of the screen.
Step 4: You will notice that the contractor payables will be converted into your respective billing currency at this stage.
4.1: Note that a one-time management fee will be added for all the selected contractors.
4.2: In case you’d like to remove certain items from the cart, click on the delete icon.
4.3: Click on ‘Continue to pay’ to proceed and click on ‘Back to Invoice Payments’ to go back.
Step 5: On the checkout page, select bank transfer and click on ‘Continue’.
Step 6: To continue with checkout, your payables must be bundled.
A bundle means that multiple pay items will be combined into a single item which will be the sum of all the individual pay items. Note that when you bundle your invoices, a Reference ID is created against a bundle on Multiplier. This Reference ID will be used to identify & reconcile your payment once you have paid.
6.1: Click on ‘Proceed to Checkout’ to proceed with the payment.
Note - Bundled pay items cannot be edited, hence ensure you want to pay for all the individual items in your cart.
Step 7: Proceed & make the payment to Multiplier. Alternatively, download the payment instruction file by clicking on the download icon & share the file with your finance team to make the payment.
7.1: Click on ‘Continue’ to pay for your bundled invoices and confirm the payment.
Note - Whether you make the payment yourself or your finance team does, make sure to click on the ‘Confirm I’ve Paid’ button on the last screen of the payment checkout flow.
Step 8: You will see the dialog box to copy the Reference ID. Copy and paste this Reference ID in the payment transfer notes while wire transferring the amount from your bank portal. Once done, click on ‘Continue’.
Note - When you paste the Reference ID in payment transfer notes, Multiplier can identify the payments faster via reconciliation. In case of a missing Reference ID, the payment to contractors may be delayed.
Step 9: Transfer the funds to the Multiplier bank account from your bank portal.
Don’t forget to include the Reference ID in the transfer notes for faster and smooth reconciliation.
Step 10: After completing the bank portal wire transfer, click on “Confirm I’ve Paid” to confirm your payment.
Step 11: Once Multiplier confirms the payment, the invoice will be moved under the ‘Processing’ tab.
Step 12: Once Multiplier reconciles the payment, the invoice will appear under the ‘Paid’ tab.