One of a company’s bread and butter and most trusted sources of productivity would be its freelancers. Besides the fact that they are more than capable of delivering their work on time, they are also skilled enough to do it in an exemplary manner. That said, we as company owners are responsible for paying them on time so they wouldn’t feel left out despite their best efforts at work.
This may get a bit challenging, as we also have to ensure that they are paid according to our payment schedules. Luckily, we have a lot of options that will allow us to do just that.
1. Payroll Services
Some freelancers prefer to be paid via their company’s payroll services. This is basically a platform that takes care of paying the workers on their behalf. It may be a good idea to go with this option if the freelancer works for your company on a regular basis. It may also be a good idea to go with a payroll service if the freelancer is a US citizen, considering that they are tax-deductible.
2. Regular Paychecks
It is also a good idea to go with checking payments if the freelancer is part of a larger group. In this way, they will be able to receive their payments through their regular paychecks instead of having to transfer them to their bank accounts. Plus, the company will be able to enjoy the benefits that come with having a payroll program.
The downside to this option is that you will have to make the payments to the freelancers yourself.
3. Online Wallets
Online wallets, also referred to as e-wallets, are a good pick if you want to pay your freelancers through PayPal. This is possible because they can be accessed through the internet or a smartphone.
It is a good idea to go with this option if the freelancer works on an irregular basis.
However, it is also possible to pay freelancers through PayPal if they have a full-time position in your company. This is possible if you sign up for a business account. Of course, you will have to pay at least USD$ 30 for this.
4. Using Online Payment Services
Another option that you should consider when paying freelancers is by going with online payment services. The good thing about this option is that it is flexible and easy to use. The only disadvantage is that it might be more expensive than other options.
Some of the online payment services that you can use include PayPal, Square, Intuit, and Stripe.
5. Direct Deposit
Lastly, you can choose to pay for freelance work via direct deposit. The good thing about this option is that they are easier to get started with. Plus, they don’t require you to purchase any special software or hardware.
The downside to this option is that it is time-consuming. Plus, it would also be more expensive.
Conclusion
Paying your freelancers on time is something that you must do to ensure that your business stays on the right track. There are a lot of options that you can choose from, but only you can decide which one would best suit you and your freelancers.
You should choose an online payment method that will allow you to pay them on time while still giving them the freedom that they need while working. Some of the examples and recommendations above may help you achieve just that.
If you are looking for a platform that will allow you to manage your freelance payroll without much difficulty, look no further than what we have to offer here at Net Net. We are a financially-focused professional services management platform, and we are here to make your freelancer payment process easier. Call us today for more information about our management platform and our services.
