If you are viewing this, you most likely already know about Talenox's integration with GetPaid for Earned Wage Access (EWA) requests.
If you would like to learn how it works so that you can start trying it out, please go through the following guide to set up your Talenox integration to GetPaid.
What is Earned Wage Access (EWA)?
EWA provides employees access to wages that they have earned in a single month but not yet received. As it is not a loan, there are no interest or late fees.
How Can GetPaid help with Earned Wage Access Requests from Employees?
With the GetPaid integration in place, you’ll have access to the following functionalities:
Streamline payroll and EWA reconciliations
Manage and track transactions in one place (Talenox)
Real-time API pull of employment details from Talenox account
Real-time API push to Talenox account on every EWA transaction
With the GetPaid integration to Talenox, requested funds from employees are processed instantly and sent directly to your employees for payment.
How to Sign Up for the GetPaid Integration Linkage with Talenox?
You’ll need to go through a few simple steps to kickstart the process for onboarding with GetPaid:
Head to this sign up link
Fill up the GetPaid onboarding application form
A customer support representative from GetPaid will be in touch to assist you with your next steps:
Utilising GetPaid for your employees
Linking Talenox to GetPaid for automatic push of EWA requests into Talenox
NOTE: GetPaid only charges a flat one-time transaction fee.
How Can Employees Make EWA Withdrawals on GetPaid?
During the onboarding process, your employees will be taught how to make withdrawals using GetPaid in real-time.
These will be the steps involved:
1) An invitation email will be sent to your employees to sign up for their GetPaid accounts once they have been added to your Talenox company account.
2) After your employees have signed up for their GetPaid Account, they will be able to see:
How many days they have worked so far in that pay cycle (payroll month)
How much wages they have earned so far in that pay cycle (payroll month)
3) Your employees can then make withdrawals directly on the GetPaid platform for their earned wages on demand in real time.
How are EWA requests from Employees Pushed into Talenox?
Once an employee has made a EWA withdrawal on GetPaid’s platform, the amounts withdrawn will automatically appear in your Talenox account under the Payroll module.
1) Head to Payroll > Payroll Settings > All Payments to view the requests pushed over to Talenox as a payment batch in “Draft” mode.
You should be able to see the EWA withdrawal amounts showing as a “DRAFT” payment batch created for your employees for the payroll month:
2) You can click on “View” option of the payment batch created to view/verify the deduction amounts showing for your employees in payroll.
3) The amounts should be keyed into the payment batch as a “Deduction (from net salary)” pay item under the Ad Hoc Payment/Deduction tab.
Please do ensure that you verify the amounts showing for this deduction pay item keyed in so that this matches the employee’s EWA withdrawals for the month.
You can even key in a Remark to give your employees more clarity on what this deduction is for in payroll/payslips.
4) Thereafter, you can then process payroll as per normal in Talenox for your employees for the month.
You can follow the steps in this guide to learn how to process a completed month of payroll in Talenox.
And there you have it - payroll reconciliation for Earned Wage Access has never been easier!
Hope you have a great time testing out the integration with GetPaid! 😊