You can choose between two payment options when you fill out your hours. This choice determines how quickly you receive your money.
When your hours are approved by the client, an invoice is automatically drawn up. You will receive your invoice via email, which also contains a link to your invoice overview where you can check the status of your invoices. Invoices are sent to clients every Tuesday and Friday, after which the payment period starts.
There are two options for your payment. As a freelancer, you have a debtor risk. That means you risk an invoice being paid late or not at all. Don't want to run this risk? Then choose direct payment. With immediate payment, we take over the debtor risk from you at 2.9% of the invoice amount. Read more about the different options below.
1. Wait until the client pays
If you choose this option, you will receive your money as soon as the client pays us. The payment term starts as soon as we have sent the invoice. The agreed payment term is, in most cases, 14 or 30 days. This is an indication and offers no guarantee. That is why we also show the average number of days after an invoice is paid. This allows you to make a better choice in advance, for example, for direct payment, if you find the average number of days the client pays its invoices too long.
The process looks like this:
1. Once you have filled out your hours, you must wait for the client to approve your hours. This can take a few days. Once your hours are approved, your invoice is generated.
2. After your hours are approved, your invoice is sent to the client on Tuesday or Friday. From then on, the agreed payment period only starts.
3. The agreed payment term is 14 or 30 days. You will find this in the gig details or on the invoice.
4. When the client has paid us, we transfer the money to your account within three working days.
5. In the meantime, you can check your payment status via the link in the email of your invoice.
Have you chosen to wait until the client has paid the invoice and the payment term of your invoice has expired?
Once the payment term has passed, you can contact the client yourself. But we at YoungOnes also take some proactive steps here. Read more about it here.
2. Direct payment (payment within 1 minute)
When you choose for the direct payment option, we take over the debtor risk from you. You will receive the payment of your invoice from YoungOnes within 1 minute after the approval of your hours by the client. This ensures that you get paid quickly, are not dependent on a client's payment term, and do not run the risk of a client not paying. We will settle your invoice in advance, and in return, you will pay 2.9% of your total invoice amount to us as a service fee.
On average, a client approves your hours within five working days. You can contact the client if your hours have not yet been approved.