Things to do after a pay period ends
As you will notice in the panel settings, the panel can operate in 3 different modes:
- can operate in MONTHLY payouts. If this is the case for you, all pay periods will end in the last day of the month. However considering that most camsites work in bi-monthly system, automatic detection of earnings will be a little problematic.
- BI-MONTHLY, as most camsites operate. First pay period starts on 1st of each month and ends on 15th. Second pay period starts always on 16th, and ends in last day of that month
- WEEKLY. In our system, every new week starts on MONDAY.
- but disregard of the choices above, you can choose at any time to pay models daily, by using the DAILY payment button in their earnings page, if you want to.
Basically EVERYTHING in the software will be related to the periodic system that you chosen. Graphs, dashboard, etc... all will be related to this configuration.
For the sake of generics, we will use the BI-MONTHLY system in our explanations bellow, because is the most common so far.
Accounting aspects and details
From the software's point of view, after each pay period, a new one will start, with fresh values, exactly like on camsites.
All studios, after a pay period ends, will start preparing the details in order to pay the models. We don't care (as software or as company) when you will pay the models or how, but the software will try to assist you in this process, to ease your job.
Disregard that previous to this software you used other tools (or excel sheets or whatever) to calculate the payments, the system is somehow similar, but centralized.
No matter if excel or other software, normally, after a period ended, you would:
- calculate earnings of all models from all their camsite accounts
- re-verify for accuracy all data, so to avoid mistakes
- check conversion rates (EUR to local currency, USD to local currency, etc)
- prepare sheets for bank transfers or whatever method you use
- depending on your studio, you would either print invoices, generate them using secondary software, etc
Exactly a similar process exists in the panel, but all things are more transparent and easier to manage.
Generating the payments
You will (at first) distrust the system. But once 2-3 payperiods have passed, you will learn how easy it is to use, and its efficiency.
To generate the payments, you will have to navigate to studio's earnings (Financial --> Periodical Earnings). With the help of the buttons up, you will easy navigate to the pay period that you want to go.
In our demonstration bellow, we will work with 2 models:
- Denisa Florescu - via work contract (for her we will have to generate the salary taxes, a sort of a flyer)
- Maria Popescu - via services contract between 2 companies - in which case she will generate an invoice from her company to the studio's company
As you can notice in the image bellow (despite the image is in Romanian), there is an OPERATIONS column to the right, from where you can manage the payments:
At this moment the panel allows us 2 operations for each model:
- Re-add earnings - via this button, you will re-add the earnings of the model, to be 100% sure that all data inside the panel is correct (because automatic earnings might have errors or maybe admins forgot to add earnings or did errors, etc)
- Ok, create the payment of XXXX LEI - via this button you tell the panel that you want to create the payment. LEI is our national currency, but you can change it in the panel to whatever you want, pesos, yen, etc
Now, let's assume that I clicked the "re-add earnings button" and all things are ok, so now I clicked "Ok, create the payment of XXXXX LEI" for those 2 models.
The process of creating payments is complex, and depends on the way you manage/pay your models. So, depending on the above, it will look as described in the steps bellow:
- STEP 1 - CREATING THE PAYMENT - it happens when you press the "Ok, create the payment of XXXX LEI ...". In that moment the payment is created but put into an intermediary step called "verification". Why this intermediary step? Because we want you to be absolutely sure that all info is ok, and give you a chance to cancel everything in case something was wrong. OR for example you can have an admin that has rights to create payments, BUT does NOT have the rights to modify them (because you as owner want to be 100% sure of no mistakes). Etc.
- STEP 2 - PAPERWORK (intermediary step, depending on how you pay the model) AND VERIFICATION
- STEP 2a --- if the model is paid via work contract, you will have to discuss with the accountant and fill-in the TAXES flyer (you will see later on this page how it looks like).
- STEP 2b --- if the model is a company LTD, everything stops until the model will generate the invoice from her panel interface.
- STEP 2c --- for other types, nothing additional is required.
- after these steps, you will have to mark the payment as VERIFIED.
- STEP 3 - AFTER VERIFICATION, STAND BY FOR PAYMENT - at this moment, all payments are in stand-by until somebody with rights marks them as paid. Someone with right can generate excel files for bank transfers or for paxum transfers, etc... either way, you will have to either mark all as paid, or mark them as paid individually, exactly when you pay the model(s).
- STEP 4 - PAID - In this moment, both you and the model know that the payment was processed
As long as there are UNPAID payments in the system, they WILL SHOW UP in the "Unpaid payments" page, so you at all times will know who to pay.
STEP 1 - CREATING THE PAYMENT
After we pressed the "Ok, create the payment of XXXX lei" for both models, the page will change and will look similar to this:
As you will learn (or understand) from the image above:
- for the first model (via work contract), the panel is now asking me to configure the taxes flyer (its in Romanian... "Configure taxes for 1719.87$")
- and for the other model (via invoice), it tells us that there is no invoice yet, and we have to wait until the model "will generate the invoice from her panel"
STEP 2 - PAPERWORK and verification
Step 2a - Flyers for work contract taxes
For the models paid via a work contract, the software will ask to fill-in details about the taxes, as following:
In first column:
- First, decide who will pay the employee taxes. If you decide that the model is responsible for her own part of the taxes, the panel will automatically create a "manual adjustment" of -1388 LEI (representing the employee's taxes). Otherwise the employer will pay all taxes (both the 250 RON of the employer and also the 1388 RON of the employee). Atention: the values in our example are random, only for the purpose of the example in this WIKI, they are NOT real math!
- Declare the base salary of the employee (in our example, we used 1450 RON)
- Find out from your accountant exactly what is the "declared salary" based on hours worked for that model. In our example we used a value of 654 LEI
- Fields "ore lucrate (EN: work hours)" and "zile lucrate (EN: work days)" are automatically filled-in by the panel, but feel free to adjust them if you want
In second column:
- Bonuses to the salary for earnings beyond the value of the base salary. As you can see, the model is supposed to receive a salary of 6828 LEI, but her base salary is 1450 LEI. Advise with your accountant, and decide how you will do this thing.
- Other bonuses - if the case
- Meal tickets - if the case
- Taxes of the employer (the studio) - offered to you by your accountant
- Model's taxes (employee taxes) - also offered to you by your accountant
After all is filled-in, press SAVE.
Step 2b - For company-to-company system (via invoices)
When the model will login in the panel, she will see an area in dashboard similar to the bellow:
As you can see, the software displays her company's details, and also shows a RED button, asking her to generate the invoice.
After generating the invoice, both you and her will be able to view and print the PDF file.
If e-mail notifications are enabled, the accountant will receive by email the PDF that was generated by the model.
Step 2c - for other cases
For all other types, no additional things are required, the admin will simply have to press the "Ok, payment was verified" button, to put the payment into waiting stage.
Step 3 - PAYMENTS CREATED, NOW IN STANDBY.
After payments were verified, they will look similar to the image bellow:
As you can see from the image:
- for the first model (via the work contract), it shows a green "pay now" button and after it, a button to view the taxes flyer.
- similary for the model paid via invoice, the second button is for viewing the PDF invoice file.
- if you hover your mouse over the payment will show a gray-ish rectangle with many informations about the payment, such as currency, values, history of changes, etc.
After you will click the green "PAY NOW". button, the payment will dissapear from the list of unpaid payments.
How do the documents look like after being generated?
The work contract taxes flyer:
The invoice for services between companies: