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Payment dates

1. Contractor submits the invoice on Spendesk, ideally between the 15th and the last working day of the month of the service period, but no later than on the third working day following the end
   of the month being invoiced.

   1. Ex. Maria Doe worked from 1-31 March and submits the invoice on 31 March 2022.

   2. Ex. John Doe worked from 1-30 April.
      Friday, 30th April and 3rd May are bank holidays and John forgets to submit it straight away.
      John has a reminder on the calendar and submits the invoice on 9th May.

2. Due Manager manages (approves or declines*) the invoices asap.

   *explaining the reason(s) why

3. If the invoice is approved by the Manager, the payment is processed on the bank by Finance Controller on the following Thursday.

4. The online bank transfer happens on Friday. Depending on your bank, the funds should be available the following week.

NOTE: Please bear in mind that MOSTLY AI processes bank transactions once per week, on Thursdays. If you submit an invoice on Thursday evening or Friday morning, it will only be processed the following Thursday.

Supporting materials:

• Watch this video that explains everything you need to know about why a correct invoice is important for accounting.