Pre-requisites:
To pay your team members via Wise, you need a Wise Business Account. When you have setup your account, continue with Step 1 below.
Setup-Step 1. Enable Wise
In TimeSheetr (as a super admin) visit Settings > Account > Wise to enable Wise for your account.
Source currency
The Source currency is a 3 letter currency code that is used to make the payments from.
So if you pay your contractors from a USD account, you enter USD. Alternatively you could use EUR for a euro account etc.
For a full list of currency codes, please refer to this Wikipedia article and note that the ones you can use are limited to Wise’s current offering.
Setup-Step 2. Update Users
Visit Settings > Team and edit all the users that need to get paid via Wise.
Click the 3 dots … and select Edit User from the dropdown menu.
Enter the Currency and Amount, eg. if they receive $50 per hour, you enter USD and 50.
Enter their Payout currency, for example, if they get paid in Indian Rupees, you enter IDR as the payout currency. This is the currency of their bank account.
Then enter their Wise Recipient ID. You can find out by downloading this file on Wise: Saved recipients template. See next screenshot.
Note: the name on Timesheetr must match their name on Wise exactly. That’s an extra check from Wise to make sure you pay the right person.
How to find out a Wise Recipient ID
Make sure all recipients are added to Wise.
Then download the “Saved recipients template” from Wise. The file contains an ID for each recipient.
Paying with Wise
From the menu, select Payday. Select the period for which you want to make the payments (and press OK next to it). Verify that all information looks good and is in alignment with your expectations from other independent sources.
To download the payments file, just click the Download Wise CSV button.
Then click Pay on Wise, which takes you to the Wise website, where you can upload the file and make all payments. Before you make the payments, verify carefully that all information is correct.
⚠️ Warning: Never make a payment unless you have completely and independently verified that the information is correct. This includes verifying the User ID information, the pay rate, the conversion factors.