About payments & agent fees
When setting up your payment method, it’s important to remember that payments directed to agents will always be made in the form of mailed, paper checks - Wrapbook does not offer direct deposit of payments to agents.
You clients’ payments will include:
Your client’s pay
Your agent fee
Your agent fee is set by the production administrators when they invite you and your client to their project in Wrapbook. When your agent fee is set, it will be included in worker paychecks and will be taxed as worker wages.
Adding your banking information
As an agent, you’re prompted to configure your payment method during onboarding, but you can update this information at any time, by following these steps:
In the left-side navigation, click Agent Settings
On the Agent Settings page, click the Edit button next to Banking information
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Click Agent Settings, then click the Edit button next to Banking Information
Check payee settings
In the Payment Method section of the Banking information page, you’ll be required to enter the Agency with Check Authorization and Agent payee format.
Agency with Check Authorization
In this field, enter the name of the Agency with Check Authorization. What you enter here dictates how the authorized agency name will appear on checks.
Note: Since agents can enter their clients’ details directly into the system, Wrapbook doesn’t require Check Authorization Forms in order for your clients to be paid. If you have Check Authorization Forms for your clients, we recommend that you upload them to your Documents.
Agent payee format
Under Agent payee format, you can click the Agent payee format dropdown menu to specify how the Pay to line should be printed on checks issued to your clients. Your options in the dropdown menu are:
AGENT c/o WORKER
WORKER c/o AGENT
For loan-out corporations, check payee lines are always formatted as:
AGENCY NAME C/O LOAN-OUT CORPORATION NAME
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In the Payment Method section, enter the Agency with Check Authorization. You can click the dropdown menu under Agent payee format to select how names will appear on checks
Mailing Address
In the Mailing Address section, you can click to update:
Name of Agency (or Agent)
Address on Check Authorization Form
If you make any changes to your Banking Information, be sure to click the Save button before leaving the page.