How Your EOR Invoice Is Built
Your EOR invoices are shaped by a few settings on your account: the payment terms that set the due date, a banking and remittance fee, an invoicing policy, and how currency conversion is reconciled. This article explains the parts you already see on your invoices so you know what each one means.
Payment Terms
Every invoice carries a NET payment term that sets its due date. The default is NET-15, meaning payment is due 15 days after the invoice date.
Other standard terms your account can be set to are:
| Term | Due |
|---|---|
| NET-7 | 7 days after the invoice date |
| NET-14 | 14 days after the invoice date |
| NET-15 | 15 days after the invoice date (default) |
| NET-30 | 30 days after the invoice date |
| NET-45 | 45 days after the invoice date |
| NET-60 | 60 days after the invoice date |
A custom NET period can also be agreed for your account. Your current term appears on your downloaded invoice PDF.
The Banking and Remittance Fee
Moving funds carries a small remittance fee. It is typically 0.40% of the amount transferred, and it may be waived to zero for your account. When it applies, it shows on your invoice as a Banking & remittance fee line item.
For how to read that and other line items, see Understanding Invoices.
Invoicing Policy
Omnivoo supports two ways of putting invoices together:
- Per-engagement -- each engagement is invoiced on its own.
- Aggregated remittance -- charges are consolidated so you get fewer, combined invoices.
When your account is on the aggregated model, those consolidated invoices carry a v2 aggregated badge in the Billing table, so you can tell them apart at a glance.
Currency and FX
Employee salaries are funded in INR. If an engagement is set up in another currency, it can be migrated to INR at a live exchange rate so it can be paid out locally.
Because the rate used when you are invoiced can differ slightly from the rate at which funds are actually converted, any difference is reconciled through your wallet:
- A better-than-invoiced rate leaves a credit that offsets your next invoice.
- A shortfall is added to your next invoice.
You never top up or withdraw from that wallet -- it settles automatically. See Your Wallet for the full detail and the transaction ledger.