How to Start The Payroll Funding Process
You’ve completed a TemPay application for temporary payroll factoring and are ready to proceed with your partnership with TemPay. Now what?
Once you sign an agreement with TemPay, you will receive unlimited temporary agency payroll funding for your staffing needs. We partner with you every step of the way to ensure the process works correctly and operates smoothly so you receive the funds you need when you need them.
4 Steps to Payroll Funding Process
Prior to setting up your initial payroll, we set up a customized system for communication and information exchange. Here are the four steps to get your company ready for your initial payroll funding:
- TemPay’s payroll department will advise you on our process and procedures and how to send your payroll to TemPay.
- You will provide employee names, Social Security numbers and other payroll information that will ensure temporary employee payroll is accurate. As new employees are hired or leave the company, you can update TemPay.
- You provide TemPay with a spreadsheet listing all temp agency accounts receivable invoices we will be factoring along with copies of the invoices and timesheets.
- Once the initial payroll is completed, TemPay’s payroll department seamlessly funds your payroll!
The process is that easy. Once you are on board, TemPay operates as a virtually invisible partner. We provide you with reports each week on your business activity and status while we take care of your temporary agency payroll, so you can focus on what matters most – operating your business.