Alongside paying contract collaborators, you may also want to pay full-time teammates using Wethos at no extra fee.
Step 1: Create a new client named after your studio
Step 2: Create a new project
You can either put all your recurring contractors under one project or separate out as individuals. Remember, while contractors on the same project can see the others on it, they can’t see what others are getting paid!
Step 3: Create a new service for each contractor
Add details to the service including their role, description, and quantity (ex. quantities include the number of months, or simply “ongoing”). For the base price, go ahead and add in the assumed amount you’ll pay out throughout their contract. For example, if the contract is 12 months at $500 a month, your base price is $6,000.
Step 4: Add service line items
Use the Services Library to filter, search, and add services to your scope. if you decided to place all contractors in one scope, the service line items should equal the amount of recurring contractors you have. Make sure each line item has a different role associated with it.
Step 5: View "Open Roles" in the Manage tab
The roles you scoped will be marked as "Open Roles" underneath the timeline in the Manage tab of your project. You can add due dates to services here, if necessary, and later mark services as complete to track your team's progress.
Step 6: Invite contractors to open roles
Click on the arrow button on the role card, and invite your contractors with their personal email via the + button. They should receive an email invite, where they’ll accept and create their Wethos Payments Account in order to get paid. Reminder, creating a Wethos account is completely free for your studio and for the contractor, and they’ll get paid instantly.
Step 7: Transfer funds to your payments account
Ensure that you have an available balance in your Wethos Payments Account to cover your payouts. If not, transfer funds into your account ~5 business days before you plan to pay out your contractors to make sure your payout can go through and your teammate can get paid on time.
Step 8: Pay your Contractors
Ensure your contractors have a Wethos Payments Accounts by toggling over to the Pay tab in the navigation and clicking “Payout teammates”. From there, you’ll be able to pay them on the agreed-upon cadence is (i.e. January payout). Click the "review and pay" button in the top right-hand corner, and they’ll get paid instantly! From there, your contractors can connect their personal bank account to transfer funds out of Wethos at any time.
Step 9: Track your payments
On the Pay tab, you’ll be able to see your planned budget versus actuals in real-time. If contracts get extended or renewed, you can keep paying them without updating the scope as you see fit. Easy, quick, and best of all - it’s free.
*Product Hack content is subject to change as we build new features that render these workarounds obsolete! Keep an eye on what we're building via our public roadmap.
Still have questions? We're happy to help!
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