When do I get paid as an independent contractor?
You get paid within 24 hours of us receiving payment from your client. You can select payment terms of 10, 20 or 30 days for your invoices (i.e. the number of days your client has to pay). We notify you by email when we receive your client’s payment.
Need to be paid even quicker? You can apply for Cool Company’s ExpressPay® service. That way, you get paid as soon as we’ve approved your ExpressPay® application and the client has approved your invoice.
Read more about ExpressPay®
What is your fee, and what’s included?
Cool Company takes a fee of 5.98% of the invoiced amount excluding VAT.
The fee includes:
– Reporting and paying taxes, contributions and VAT to the Swedish Tax Agency.
– Paying your salary with the tax already deducted.
– Bookkeeping, auditing (KPMG) and debt collection (Intrum Justitia) – but please note that legal matters are not included in debt collection.
– Administering your ROT & RUT (non-commercial clients) deductions.
There are no fixed fees or hidden charges.
Where can I see how the invoiced money is split and what my salary will be?
When you create an invoice for your work, you can always see your net salary at the bottom of the screen. Click on the ‘Our calculation’ heading to view a detailed summary of the invoice’s various costs, including the ones you are paying to Team members, and ROT or RUT costs.
Tip: Before accepting an assignment, you can work out what your salary will be depending on the size of the invoice. This can be useful when deciding how much to charge for an assignment.
Try calculating your salary after tax.
Where are my salary specifications?
You will find your salary specifications at the bottom of the My Money page. To get there, go to the Dashboard and click on My Money.
The salary specification for the current month is updated every time you request a payment. The specifications for previous months contain the complete accumulated summary.