Overview
This guide is part of the broader Temp Placement Request process. After you have provided contract and client information, you will proceed to this tab to provide information about the placement.
Steps
1. Fill in basic placement information
Enter the start date and end date.
Enter the contractor's job title.
Enter the work location. If working remotely, please use their country of residence
Select the funding option for the placement:
Fully funded: both the contractor's payments and the agency's margin are advanced (funded).
Partly funded: the contractor payment is funded, and the agency margin is paid only after the client has paid.
Paid when paid: both the contractor payment and agency margin payment happen only after the client has made the payment.
For more details about the different funding types, please visit the 'Fully Funded, Partly Funded, and Paid When Paid Explained' guide.
2. Set timesheet frequency, currency, purchase order, and expenses
Select the timesheet frequency: weekly or monthly.
Select the placement currency. The client's invoicing currency, the contractor's payment currency, and the agency margin payment currency must align.
Provide a purchase order number if applicable; otherwise, there may be delays in client payment.
Select the expense fund type: funded, paid when paid, or not applicable.
3. Provide notice periods and contractor payment terms
Enter the IR35 status.
Enter the client notice period and contract notice period. These will determine whether client and contractor approvals are needed if you need to shorten the placement later.
Select contractor payment terms:
Standard payment terms: if the client has approved the timesheet by the cut off deadline on Tuesday midnight, the contractor will get paid within the same week.
Extended payment terms: you will receive a discount for extending the payment terms, and the contractor would then be paid by the self-billing invoice's due date.
4. Enter rates and units
Choose the unit type for the standard rate: hourly, daily, or custom (for activities like assessments).
Provide the contractor rate and the client rate. The client rate must be higher than the contractor rate.
Enter expected units per week, which is helpful in forecasting the agency earnings and is shown on insights dashboard.
If the timesheet frequency is monthly, you can choose the unit type "Monthly". There is a fixed amount per month agreed between the contractor and client, and only one unit is provided each month.
If there is an additional rate (for example, overnight work or weekend pay), add it at the placement request stage.
5. Add placement contacts
Agency consultants: the agency consultant who will be notified of updates about the placement.
Client roles:
Hiring manager: mainly responsible for approving the placement or any changes.
Timesheet approver: responsible for approving all the timesheets that the contractors submit.
Invoice contacts: will receive an invoice when a new invoice is generated for that client and will receive chasers if the client has overdue payments.
6. If you issued terms to the client
On the bottom of the placement details page, designate at least one hiring manager as the signing authority of the terms of business.
They will receive a link to sign and approve the master terms before the hiring manager can approve the placement.
Any questions - jump on chat or pop us an email. We're here to help.