Lower the risk of misclassification and increase efficiency.

Show less control of contractor deductions and save administrative time with outsourced settlement processing.

Contractor Solutions / SettleUP

Reduce the time, effort and cost of settlements.

Third-party contractor settlement and deduction processing

With SettleUP, there is no costly accounting system or software to purchase and install. Our SaaS application allows for payment and deduction files to be uploaded and recurring items to be scheduled for each period. Our system calculates the net settlement to disburse to contractors and the deduction and reserve amounts to remit to vendors. Reduce your accounting team's workload with our comprehensive reports that show all settlement activity.

Contractor settlement payments

Easily complete settlement cycles and give contractors the choice of receiving their settlement payments by check, ACH or debit card, however they prefer.

Cloud-based software

Our cloud-based software-as-a-service (SaaS) enables local managers to upload payment and deduction information anywhere, anytime.

Real-time view of settlements

Pending payments and deductions are displayed online in real time for greater transparency and so that accounting personnel, local managers, contractors and vendors can resolve any issues before settlements are finalized.

Third-party processing

We enter into agreement with both parties to show how contractors authorize their vendor payments and that the onus for processing deductions is not with your company alone.

How it works

Step 1:

Payments

We upload your payment file or schedule recurring payments for each settlement cycle.

Step 2:

Deductions

Vendors invoice contractors and submit their deduction files through SettleUP.

Step 3:

Processing

Payments and deductions are displayed online with projected net settlement amounts.

Step 4:

IC Settlements

Settlement payments are disbursed to contractors and deduction amounts to vendors.

Key benefits of SettleUP

With SettleUP, we help your team process driver payments and deductions efficiently, without all the headaches.

Get contractors what they need.

Settlement funds by check, ACH or debit card
Statements available online, by email or mail
Settlement and reserve account history online
Revenue and expense reporting for tax filing
Access to vendor services
Optional contractor fuel cards

Make it easy for your company.

Outsourced settlement processing
Third-party deduction processing to reduce risk
Access information anywhere, anytime
Reserve/escrow account management
1099 administrative services
ICs can access all information online

Show how contractors control expenses.

With SettleUP, contractors can approve or rescind approval of vendors to show that the deduction process is not involuntary and that they control profit and loss potential, not your company. Payment terms between the contracting company and contractor can also be documented to further demonstrate a vendor-to-vendor arrangement. Read more about how third-party settlement processing can benefit the independent contractor model.