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Introducing Reimbi Payouts, the best way to issue non-employee payouts.
External referral bonuses (via Drafted for example), coding assignment payments, bug bounties, and refunds are just a few examples of payouts that companies issue to individuals. These payouts are usually "one and done" meaning that the payout will be the only transaction with this individual. Setting up this payee as a regular vendor or as a one-time vendor, including collecting all of the usual supplier setup documents is a big investment for what is generally a relatively small payout. Reimbi Payouts solves this problem for you.
If the payout is taxable Reimbi will collect the necessary tax information from the payee before issuing the payout. Reimbi also issues the 1099 to the payee for taxable payouts. That's two less things for you to do for every payout!
Reimbi issues payouts from our accounts. This means that your AP team doesn't need to setup individual payees as a vendors. Each payee chooses how they want Reimbi to issue funds and provides the necessary account information directly to Reimbi. Now you don't have to collect and store sensitive information like bank account numbers.
Even for one time payouts companies need visibility on every transaction. You also want your payees to have information on their payouts. Reimbi provides notifications via email and text so everyone has the status they need.
Payees are notified when a payout is available and when a payout has been issued. Payees can also view real time status when logged into Reimbi.
For your accounting and internal audit teams, there is a full audit history available on every transaction. Simple and secure!
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