ZayZoon calculates your available balance based on:
your net earnings (take-home pay) from the most recent pay period
payroll data received everyday
payroll data received 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!
Read below for more details on how ZayZoon calculates the amount of wages you can access for salaried and hourly employees or contractors.
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
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 with each new shift/attendance data we receive from payroll.
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
providing a portion of that to access (estimated hourly wage)
ZayZoon receives updates daily on your attendance data (hours/shifts worked) and this is multipled by a portion of your estimated hourly wage to increase your available balance.
Your available balance will decrease with each payout you take.
If you notice missing or incorrect hours and it has been more than two days since your shift ended, contact a live ZayZoon agent via chat or at support@zayzoon.com with your supporting documentation for manual review.
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.
Why does ZayZoon say I made less than what I actually earned?
Please note that only net earnings (the amount of money you earned after tax) are included in calculating your available balance.
The calculation of your available balance does not include:
holiday pay
vacation pay
bonuses
other supplemental income, like overtime, on-target earnings (OTE), or on-target commission (OTC)
Note that every payday, ZayZoon recalculates the amount you can access based on the payroll data from your most recent paycheck. Your average daily increase and hourly wage can fluctuate based on your historical earnings.
The more hours or earnings you have from the previous pay periods, the more money you can access in the current pay period.