The backbone of U.S. infrastructure, the construction industry employs almost 7.8 million people, which is about 2.9% of the U.S. workforce. However, construction is the industry that is most burdened by late payments. The construction industry’s average DSO, the time taken to receive payments for its services by a company, is 94 days. This delay in receiving payments can result in late payments for their employees, which ultimately results in work delays or stoppages. If you run a small construction company, you may avoid these late payments to employees by funding your payroll using credit cards. For instance, you may fund Justworks Payroll by credit card using the cloud-based platform.
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Easily Integrate Your Payroll Software
To make your payroll distribution smooth and efficient, you may utilize Zil Money. You may easily integrate your payroll software with the platform. With this integration, employee payments can be made easy and hassle-free. You may import the payroll data to the platform and make employee payments using various payment options. The cloud-based platform helps to make payments via checks, eChecks, ACH, Wire transfers, and more.
If your cash flow is short, you may fund your payroll by credit cards. This can be the best option for payers as you can make payments on time as well as get rewards. After you log into the Zil Money account, you may select payroll by card from the side panel. Then, you may select the payroll software and click on Connect. Once everything is done, import the employee details and process payroll by using a credit card.
How Does Payroll by Credit Card Feature Benefit Your Construction Company?
Simplifies Cash Flow Management: Construction companies are usually paid by their clients only after the completion of the project. Therefore, construction companies, especially small ones, will face short cash flow. With the payroll by credit card feature of Zil Money, they can ensure that employees are paid on time. Also, they can ensure that cash flow is managed well until they receive client payments.
Increases Employee Satisfaction: Workers in construction companies usually rely on timely paychecks to manage their day-to-day lives. Therefore, any delays in payroll can affect your employees’ day-to-day life and can create dissatisfaction among them, leading to work delays. The payroll by credit card feature can help construction companies to meet their payroll distribution on time. This can help in building trust among the workforce.
Helps in Managing Unexpected Costs: Construction companies may have to face unexpected costs like equipment repairs or sudden increases in materials. After meeting these unexpected costs, companies might fail to pay their employees on time. This can be avoided by using the payroll by credit card feature.
Get Incentives: Usually, business credit cards offer cash back, rewards, and points. You can get these rewards by using credit cards to fund your payroll. These incentives can be used for your business operations.
Efficiently Pay Your Employees with Multiple Payment Options
After funding your payroll, paying your employees is the next task. However, each of your employees may prefer different methods for accepting payments. With Zil Money, this hassle can be eliminated as the platform provides multiple payment options.
- Checks: Employees preferring checks can be easily paid using the cloud-based platform. You may send check payments via mail or email to your employees. If your employees prefer mailed checks, you do not have to worry about the hassle of visiting a post office. With the platform, you can easily mail checks with a few clicks via USPS or FedEx. If they accept checks via email, then you may send eChecks, the digital alternative to traditional paper checks. The platform helps you send eChecks in the form of a one-time printable PDF. This eCheck can be then easily printed and used like a regular paper check. You may also print checks instantly on the platform using blank stock papers and a regular printer.
- ACH Transfers: The cloud-based platform can help you pay employees via ACH transfers. You may send one-time or recurring ACH payments on the platform. By enabling recurring ACH payments, you do not have to worry about missing employee payments. If you missed out on any payments, you may send payments via same-day ACH. You can feel secure about the safety of ACH transactions as the platform is an official member of NACHA.
- Wire Transfers: Construction companies may rely on skilled laborers from abroad for certain tasks. To pay these foreign employees on time, companies may rely on wire transfers. With the cloud-based platform, wire transfers can be done quickly at an affordable cost. The platform offers both international and domestic wire transfers.
The Conclusion
Construction companies can fund Justworks Payroll by credit card using Zil Money. The platform helps you fund payroll using a credit card when your cash flow is short. With this, you can pay your employees on time and build relationships. Also, the platform offers multiple payment options for employee payments.
