How Project Payments Work

How project payments work

FreelanceERP follows a simple payment flow designed around the agreement between the client and the freelancer.

1. Agree on the project

The client and freelancer agree on the project scope, price, deliverables and payment terms.

2. Fund the project

The client adds the required funds to their FreelanceERP wallet.

The amount required for the agreed work is then blocked in the client's wallet and reserved for the project.

3. Complete the work

The freelancer works on the project and, when the agreed work has been completed, marks the project or applicable stage as completed.

4. Client approval

The client reviews the delivered work and confirms completion.

5. Funds are released

Once the client confirms the completed work, the applicable blocked funds are released from the client's wallet and transferred to the freelancer's available balance.

Milestone Projects

Milestone-based projects

Large ERP projects can be divided into multiple milestones.

Each milestone can have its own agreed amount and deliverables.

Before a milestone begins, the client reserves the amount required for that milestone in their FreelanceERP wallet.

When the freelancer completes the milestone and the client approves the delivered work, the corresponding funds are released.

Example

A project has four milestones:

Milestone 1 — €1,000

Milestone 2 — €1,500

Milestone 3 — €1,000

Milestone 4 — €500

The client does not need to reserve the entire project amount for every milestone at once.

The applicable milestone amount is reserved when that stage is ready to begin.

Weekly Projects

Weekly projects

For weekly projects, the client and freelancer agree on the number of hours and the applicable hourly rate.

The amount corresponding to the agreed hours is reserved in the client's wallet.

The funds are then released based on the actual hours completed and reported according to the project's terms.

Example

The client and freelancer agree on:

30 hours × €40/hour = €1,200

The €1,200 is reserved in the client's wallet.

If the freelancer completes and reports 10 hours according to the project terms, the amount corresponding to those 10 hours is released:

10 × €40 = €400

The remaining reserved amount stays associated with the project according to its agreed terms.

If the freelancer completes the full 30 hours, the full applicable amount is released.

Freelancer Payouts

Getting paid as a freelancer

When funds become available for withdrawal, freelancers can request a payout from their FreelanceERP wallet.

Payouts are processed through (Wise- Revolut- Stripe) and transferred to the freelancer's connected local bank account.

Depending on the currency, country and local banking system, payouts may take approximately 2–7 business days to arrive.

Currency Conversion

EUR balance. Local currency payout.

FreelanceERP uses EUR as the platform currency for wallet balances and project amounts.

When funds are paid out to a local bank account, Bank (Wise - Revolut - Strip )may convert the amount from EUR into the applicable local currency.

The final amount received in the local bank account can therefore vary based on the applicable exchange rate and any currency conversion or payment fees charged by Bank or other applicable providers.

Payment Flow

From agreement to payout

Local Bank Account