Contractor settlement payments
Easily complete settlement cycles and give contractors the choice of receiving their settlement payments by check, ACH or debit card, however they prefer.
With SettleUP, there is no costly accounting system or software to purchase and install. Our SaaS application allows for payment and deduction files to be uploaded and recurring items to be scheduled for each period. Our system calculates the net settlement to disburse to contractors and the deduction and reserve amounts to remit to vendors. Reduce your accounting team's workload with our comprehensive reports that show all settlement activity.
With SettleUP, we help your team process driver payments and deductions efficiently, without all the headaches.
With SettleUP, contractors can approve or rescind approval of vendors to show that the deduction process is not involuntary and that they control profit and loss potential, not your company. Payment terms between the contracting company and contractor can also be documented to further demonstrate a vendor-to-vendor arrangement. Read more about how third-party settlement processing can benefit the independent contractor model.