As a freelancer, you have a debtor risk. This means that there might be a chance that an invoice is being paid late or not at all. It's your own responsibility to make sure your invoices are getting paid.

It is possible to buy off your debtor risk and ensure that you get paid faster. YoungOnes then takes over your invoice as an intermediary. We pay your invoice in advance and ensure the money is collected from the client. Because we take over the debtor risk, we charge a small fee for this. This is called 'direct payment'. 

When submitting your hours, you can choose the option to wait for the client to pay the invoice or the option 'direct payment'. With the option 'direct payment,' we will pay the invoice to your account within a minute and take over the debtor risk after the client has accepted your submitted hours. In return, you will pay 2.9% of your total invoice for this service (incl. VAT)*.

Costs & VAT reconciliation 

It may not sound logical to charge 2.9% of the total invoice amount including VAT. However, direct payment is a service; in most cases, you pay VAT on that too. You can reclaim the VAT when you do your turnover tax unless you use the Small Businesses Scheme (kleindeondernemersregeling, KOR).

Direct payment & administration
The costs for a direct payment (factoring) are business expenses. This will be marked on your invoice as 'Factoring <invoice number>'. You can deduct these direct payment costs (and the VAT only if you are not using the KOR scheme) as business expenses. You can use our administration tools for this purpose.