In this blog, let us see how a temporary staffing agency can handle make payroll with credit card using Zil Money when they are short on cash flow.
Temporary staffing agencies help businesses find the right talent for short-term jobs and provide people with flexible work opportunities. These agencies play a big part in a fast-moving job market, where businesses are seeking extra hands-on short notice. However, one big challenge these agencies face is making payroll payments to their workers on time. Let us see a hypothetical situation to understand more about this.
Imagine you run a temporary staffing agency. A client company calls you and asks for 20 workers for their warehouse for the next whole week. You act quickly, find workers, handle all their paperwork, and they are ready to go. They work the whole week, and by the end of the week, your workers expect their paychecks. But the problem is your client will not pay you for another 30 days. This is a common situation for staffing agencies. Workers need to be paid on time, but the money from clients does not come in fast enough. It’s a stressful balancing act, especially when cash flow is tight.
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So, How Can You Fill This Gap in Cash Flow and Pay Your Workers on Time? Let Us Find Out!
Easily Fund Your Payroll with a Credit Card
You can easily fill the gap in cash flow and pay your workers on time using a credit card. Wondering how? Utilize Zil Money and fund your payroll account with a credit card. For this, all you have to do is upload your payroll summary on the platform. You may easily import the summary from your payroll software by integrating the cloud-based platform with your payroll software. This is an easy task as the platform is connected with top payroll and accounting software.
Once everything is complete, fund the checking account connected to your payroll software with a credit card. You may transfer the funds quickly to these accounts via ACH or wire transfer. Choose the option that best suits you on the platform and fund your payroll efficiently.
How to Fund Payroll by Credit Card on the Cloud-Based Platform?
- Log into Zil Money and click on the Payroll by Card option from the side panel.
- A badge indicating the payroll section appears and click on Start to begin the process.
- You may select the preferred Payroll application, enter the business name, and click on Confirm. You will be redirected to the home page.
- Click on New to add new payroll, enter payroll details like gross pay and payroll check date, and upload your payroll summary.
- Select your payroll-verified bank account, select the credit card, and choose the payment method. Once you have completed it, click Process Now.
- A confirmation page will appear, and you may click Process to confirm the payment.
- Then, add your signature and click on Verify to confirm your authorization for the credit card use.
Why Your Staffing Agency Should Consider Funding Payroll with Credit Cards?
Traditional loans or any other financing options may take many days or even weeks to process. So, utilizing these options in an urgent situation likepayroll funding cannot be a great option to consider. In these situations, you may use credit cards for immediate access to money. You may cover a part or full payroll with a credit card using Zil Money.
You do not have to worry about delays in your client payments. The payroll by credit card feature of the cloud-based platform helps you ensure your workers are paid on time. As most business cards offer rewards and points, especially for large payments, using a credit card for payroll expenses is a great option. Here, you have a double benefit! You may make your routine payment on time as well as earn rewards and points.
Utilize Multiple Payment Methods for Timely Employee Payments
To make your employee payments, Zil Money offers you multiple payment options. These include payment options such as ACH, wire transfers, and checks.
ACH – You can easily pay your workers using ACH transfer on the cloud-based platform. Send one-time or recurring payments via ACH using the platform. For urgent payments, the same-day ACH feature is available on the platform.
Wire Transfers – For quickly settling payments especially large ones, you may utilize wire transfers. You can make domestic as well as international wire transfers on the cloud-based platform. When using a domestic wire transfer, it takes only a few hours to settle. Meanwhile, an international wire transfer may take only a few days to settle. Choose the one you need and make payments on time.
Checks – Payments via checks are still preferred by some employees because of their familiarity. The cloud-based platform helps you easily create and send checks via mail or email. You may also print the checks instantly on demand using blank stock papers and any printer on the platform.
Conclusion
Your temporary staffing agency need not worry about making timely employee payments when short on cash flow. Using Zil Money, you may easily make payroll with credit card. By funding your payroll accounts through a credit card, you can pay workers on time and enjoy benefits from your business credit cards. Also, to accommodate diverse employee payment needs use the multiple payment options on the cloud-based platform.
