Bitwage recently launched a new update to the User Interface for workers. We wanted to clarify new terms in order to help with any potential confusion with the new interface.
Please make sure to watch this video, as it will walk you through the entire process: https://www.youtube.com/watch?v=a_PAWDCVM7o
What is the difference between an employee or contractor and does my choice here matter?
An employee means that the company is withholding some of your money so that they can pay taxes to the company’s local tax agency, whereas a contractor receives the entirety of their paycheck or invoice and is personally responsible for all taxes owed to the appropriate governments. Freelancers fall into the “Contractor” category.
This is VERY important to choose correctly. Contractors are able to issue invoices, whereas employees can only create direct deposit slips. If you are working internationally for someone, you are likely a contractor.
What is a contract?
A contract is an agreement you have between yourself and a company you are preforming work and services for. For many, you will only have 1 company you are contracting with, either as an employee or a contractor. However, you have the option to contract with multiple companies.
How do I create an invoice?
In the video, you will see how to create a direct deposit slip for an employee. It is the exact same process, but you must make sure that in the details for the company, you choose “Contractor” instead of “Employee”.
Once you click on the “Invoices” button on the contract you want to create an invoice for, click on the button "+Get Bank Details” and you will be able to create your invoice.
How do I create a claim deposit?
We have removed this feature and combined it with invoice creation. By creating an invoice, it will automatically generate a claim deposit in our backend. We plan to add additional features here, such as the ability to see invoices that have been paid after they have been created and the ability to send an invoice directly from the platform.
How do I sign up for payroll services as an employee?
See this video - https://www.youtube.com/watch?v=a_PAWDCVM7o