How to Receive and Manage Payments
Get detailed information on how to ensure you receive payments on time through Loxala. This guide includes instructions on payment methods, invoicing, and tips for timely payment collection.
Payment Process on Loxala
Loxala's structured payment system ensures freelancers are compensated accurately and on time for both hourly and fixed-rate projects.
Time Tracking and Logging Hours
Loxala provides a dedicated time tracking tool for hourly projects to facilitate transparent billing. This tool allows freelancers to:
- Log Hours Accurately: Record daily hours with task-specific notes for clarity and reliability.
- Verify Progress: Track milestones and provide status updates for fixed-rate projects to keep clients informed.
Payment Schedule and Hold Period
- Weekly Payment Processing: Payments are processed every Monday at 3 PM GMT, ensuring a consistent payment schedule.
- Verification Period: A 7-day hold period is applied to confirm logged hours or milestone completion before funds are released.
- Payment Status Updates: Freelancers can track payment status from their dashboard and receive notifications when funds are verified, processed, and available for withdrawal.
Freelancer Commission Rates
Loxala applies transparent commission rates based on different working conditions:
- Standard Commission Rate: 10% of earnings per job.
- Applicable under normal working conditions.
- Multiple Jobs Rate: 10.9% of earnings per job.
- Applies when taking on a new job while actively working on another project.
- Weekend Commission Rate: 8.9% of earnings per job.
- Applies to the first job accepted between Saturday 12:00 AM GMT and Sunday 11:59 PM GMT.
- Note: If a freelancer already has an active job, the Multiple Jobs Rate applies.
Tips for Timely Payment Collection
- Clear Communication: Provide frequent updates on project progress to maintain client trust and reduce disputes.
Frequently Asked Questions
When are payments released?
Payments are processed every Monday at 3 PM GMT after a 7-day verification period.
How do I ensure payments for fixed-rate projects?
Ensure milestones are accurately recorded and verified through the platform to avoid delays.