1. What is a 1099?
The form 1099 is used in the US to report certain types of non-employment income other than wages, salaries, and tips to the Inland Revenue Service. As such, freelancers, consultants, and Independent Contractors must declare their income on a 1099 form and such workers are sometimes referred to as ‘1099’s’.
This contrasts with salaried employees who must complete a W-2 form. Federal and state regulations govern who can be paid as an Independent Contractor, and misclassification risks fines, penalties, back payments, and potential lawsuits.
2. How do timesheets work?
All you need to do is fill in the time you spent on each day during the booking. Blank timesheet entries (one per day) are generated each day, so you cannot fill out time in the future - only on the day in question, and the past.
You can fill in your timesheets with half or full days.
At the end of each week (or the end of the project, if that happens mid-week), you should submit your timesheet for approval. Once you've submitted your timesheet and it's been approved, you can upload your invoice via the 'Payments' tab.
For more information about timesheets and the platform, click here.
3. How do I submit an invoice?
Before we begin, please make sure you've accepted a contract and submitted the necessary timesheets.
As soon as you have submitted your timesheet and it's been approved, you can invoice via the 'payments' tab.
Please ensure that your invoice includes the following and is uploaded as a PDF:
✓ Your Trading Name
✓ Your Purchase Order Number
✓ Your Invoice Number
✓ Your Bank Account Details
✓ The exchange rate
✓ YunoJuno Address: YunoJuno, Waverley House, 9 Noel Street, London, W1F 8GQ
✓ and if applicable your VAT number
We'll make the payment to TransferWise and they will send you an email and all you need to do is follow the necessary steps to receive the funds. The reason why we're using TransferWise is to minimise the international bank charges that occur when you receive an international payment.
Please note: If you do not enter your information within 2 days, Transferwise will send a reminder email automatically. Emails will come from firstname.lastname@example.org.
Also if you do not provide your bank details within 7 days of the transfer being set up it will automatically be cancelled and the money refunded to YunoJuno.
4. What are the payment options for a worker?
Workers will be paid hourly.
5. How to update bank details
Should banking details change we require our freelancer to get in touch with our finance department as the team will not only update your banking details but also run an ID check for security reasons. You just need to send an email to email@example.com and they will guide you through the bank details update process.
6. What are the YJ's payment terms?
We pay freelancers booked through YunoJuno Marketplace within 14 days of timesheet approval (by the hiring client) and invoice receipt. Please note that when freelancers are directly invited by a client, client payment terms might apply.