Paying and managing Contractors that are business entities
If you're paying people that prefer to record their earnings as a Business (they have a legal business name and EIN) instead of as an individual (using their first and last name and SSN) then these updates and feature releases are for you!
Admins can select what the path for onboarding contractor as either 'business' or 'individual'. At the first onboarding screen, the worker can continue as the selected type, or switch if it's incorrect.
Screens have been updated to ask only for the information pertinent to their user type. Individual or business contractors can both have a DBA (doing business as). This allows businesses to enter their EIN which comes in handy during tax time.
When 'adding a worker' that is a contractor, you will be prompted to select if they are a 'business' or an 'individual'. If uploading using the 'bulk worker upload' template, there are new columns added at the end to specify their type as "BUSINESS" or "INDIVIDUAL". Text must be capitalized.
Admins can now search on the people page by 'business name', 'DBA', and 'preferred name'.
For contractors with the type 'business', the Personal tab on the worker profile is replaced with "Business" and stores all of their business information. A business account requires "primary account owner's information" for contact purposes.
Reports & Pay Stubs
Business legal name and DBA now shows up on the paystub and reports including: Census Report, Demographic Report, Returned Payments, and Negative Balances.
Worker "My Account"
Workers can now view and edit their business name and DBA in the 'my account' section of the web app. Click on the account icon in the top right corner of the app, and select 'Business Information'. Admins can also edit this information on their behalf.
Converting from individual to business, or vice versa
From the worker profile, on the Job tab, click to edit their information. A slide out will appear with the option to "change to business account", or "change to individual account". Any change will prompt you to update the worker's information including their business legal name, first and last legal name, and their TIN (should be an SSN for an individual and an EIN for a business).
Admins - help us ensure data is accurate! If you have a worker who has previously entered a business name in the 'first and last name' fields, contact them to verify their business information and collect their EIN, then convert their profile!
Got questions, comments, or feedback? Feel free to get in touch with our team. Book a time here.