In general, your available wages increase daily by a fixed amount (a portion of your average daily net earnings from the last few pay periods).
ZayZoon calculates your available balance based on:
your historical net earnings (take-home pay)
how often your payroll data is received
confirmation of payroll amounts on pay day
The amount of money you can access after these calculations is called your available balance.
ZayZoon uses calculations based on your historical earnings to provide a portion of your pay - that way, you still have a decent amount on payday!
Available balance for salaried employees
Daily Wage Increase
For salaried employees, ZayZoon uses your historical earnings to make a portion of your average daily wage (after taxes) available early.
ZayZoon calculates the available balance for salaried employees by:
receiving your last paycheck data (after tax deductions)
dividing your take-home pay by the amount of days for that pay period
recalculating your average historical earnings
providing a portion of that to access (your daily balance increase)
Your available balance (the amount of money you can take out) will increase by this amount everyday.
Your available balance will also decrease with each payout you take.
Available balance for hourly employees or contractors
Average Hourly Wage
For hourly employees or contractors, ZayZoon uses your historical earnings to make a portion of your average hourly wage (after taxes) available early (also shown as net $/hour).
ZayZoon calculates the available balance for hourly employees or independent contractors by:
receiving your last paycheck data (after tax deductions)
dividing your take-home pay by the amount of hours for that pay period
recalculating your average historical earnings per hour
providing a portion of that to access based on attendance data received
In most cases, this means you'll have access to a portion of your previous paycheck data in this pay period, and this will increase when we receive your shift/hours worked.
If your balance updates appear as Shift Worked, your ZayZoon available balance will update immediately receiving your attendance data.
It can take up to two business days from the day of your last shift to receive attendance data from your payroll provider.
Your available balance will decrease with each payout you take.
Payday and Repayments
On payday, the money you've taken out (payouts) will be deducted from your paycheck to pay back ZayZoon.
Your available balance will reset based on the repayments and ZayZoon uses your new payday data to recalculate your daily available increase.
If your payouts have not been repaid in full, you may need to wait a few days for your balance to increase.
If your payouts have become overdue, you won't be able to take a new payout until you make a manual repayment or until it automatically resets on your next payday.
Excluded Earnings/Wages