# Invoices & Payment

In order to reduce administration for you, we have made it simple to get paid for your work via the Worksuite platform. 

### How invoicing works

**For hourly-based rates**

Your Project Manager will clearly communicate the exact timesheet and invoicing requirements for your project, before you start work. However, our process generally works as follows

1. You perform work on a specific task, using one of our work tools
2. You record your time across one or more [timesheets](/scholars/working/timesheets.md), and submit the timesheets.
3. The Project Manager reviews your timesheets, and **automatically generates an invoice**

As such, you do not need to create invoices manually, because everything is created for you on the Worksuite platform. In the event that your timesheet requires revision, an invoice will not be created until the timesheet has been updated, reviewed and approved.

**For task-based rates**

Your Project Manager will clearly communicate the exact invoicing requirements for your project, before you start work. However, our process generally works as follows

1. You perform work on a specific task, using one of our work tools
2. You navigate to your task in <https://scholars.imerit.net/> and click on 'Add Invoice' <img src="/files/hy2HrEva0ddv997fOTlZ" alt="" data-size="original">
3. Fill in the required invoice details and submit
4. The Project Manager reviews and approves your invoice

### Ensuring your bank information is correct

Currently, Scholars only supports payment via direct bank transfer.&#x20;

In your onboarding process, you provide us with your banking and tax information. If you need to update this information, you can do so in your [Settings page](https://scholars.imerit.net/partner-profile/bank-details/) (click the :gear: icon bottom right of any Worksuite page), by clicking Bank Details.&#x20;

Payments are initiated every Friday. It is your responsibility to ensure that your bank details are correct at the time we initiate payment. If in doubt, please contact your Relationship Manager.

### Payment timing

It is our priority to ensure all of our Scholars are paid correctly and in good time after completing work.

{% hint style="info" %}
**Currently, we commit to you receiving your payment within 21 days of timesheet approval.** We have successfully hit this deadline for 99% of payments over the past six months.
{% endhint %}

**These are the steps before your payment is received:**

1. **Timesheet submitted:** You submit your timesheet by 0:00AM Saturday GMT/UTC
2. **Timesheet approved** Our Project Managers review timesheets, and approve or return them
3. **Invoice created:** Invoices are created automatically from approved timesheets
4. **Payment review:** Payments are reviewed and, if approved, scheduled to be sent the next Friday
5. **Payment received:** Payments can take up to ten days to arrive after they are initiated

### Ensure your bank account accepts US Dollars

iMerit pays our consultants in US Dollars only, without exceptions. **If you are located overseas, please make sure in advance that your bank account accepts foreign currencies.**&#x20;

**Any charges incurred on account of currency conversion are borne by you.** You are advised to discuss any potential currency conversion or transfer fees directly with your bank to ensure you are receiving the most competitive rate.&#x20;

{% hint style="info" %}
You may observe fluctuations in the final amount deposited in your account due to the exchange rate between USD and your bank account currency - for example, this chart shows the [exchange rates](https://www.xe.com/currencycharts/?from=USD\&to=EUR\&view=1M) between USD-Euro.
{% endhint %}

**If your bank charges a fee** to accept foreign currency, to avoid the FX conversion fee, you may want to consider opening a USD or multi-currency account with your current bank, or a new bank in your area.


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