Our Quba Principal product
For agencies who operate in the construction sector and may get caught by CIS you need to have gross status to be operate the principal scheme. If you haven’t then we can solve this for you as Quba does have gross status. For this we act as the principal to the contracts and you act as our agent. The process is exactly the same from your perspective
The online dashboard stores all the client, worker, assignment and e-timesheet details in a secure and accessible environment which, once inputted are automatically passed to Quba for processing. This also allows your workers to create their own login on the portal to allow them to complete their weekly timesheets for approval by the client. The online timesheet system simplifies the administration for all and is accessible from any computer or smart phone.
At the end of the week Quba pays your temporary workers on your behalf, raises your invoices and pays you the margin you have made less our weekly fee. At this point the debt is bought off you and assigned to Quba for us to collect from your clients
In short – 100 % funded, as long as your debt is insured you do not have to find any finance – we provide it all for you.
Your recruitment business becomes an agent of Quba and contracts with your client using our agreed terms in Quba’s name. Once you have workers placed, the information is passed to Quba to process. Quba produces a dual branded invoice and collects the debt.
As part of our weekly process of paying your workers and raising your invoices, we will produce a gross margin report. From this, we deduct our fee and pay to you the remaining balance.
RECRUITING WITHIN CONSTRUCTION SECTOR
If you recruit within this sector without CIS gross status, your clients are likely to deduct 20% off the invoice value. Difficult to acquire due to turnover and compliance tests and minimum 12 month trading history, Quba solves this problem by being principal.
FLAT RATE VAT SCHEME
You may benefit financially from using the flat rate VAT scheme as long as your turnover is below £230,000 per annum. As Quba is principal, your turnover is solely your gross margin and will likely remain below this threshold for longer.
Streamlined four step process
Principal: Recruitment business engages Quba to act as principal.
Placement: Places worker.
Invoices: Quba invoices client using e-timesheet function.
Margin: Quba credits Recruitment business with the temp margin the following week.
Quba makes your life simple
FINANCE YOUR WORKING CAPITAL REQUIREMENTS
This is essentially the cost of each weeks payroll until the client pays.
We provide protection in the event of the insolvency of your client.
for clients and workers.
Fully automated online timesheets with a paper-based backup.
We'll take care of all the stressful
Pay and bill weekly with payment by faster payments to workers.
Payroll software for both
pay and billing.
We'll run rigorous credit checks to ensure your safety and security.
Recruitment expertise and
E-timesheet functionality as standard
Many of the large, technologically advanced recruiters have been using E-timesheets for many years. We want our partners to have the most advanced system and therefore we have invested significant capital into building a unique, easy to use, clean and transparent system. The temporary operative creates their weekly timesheet online using the portal, this alerts the client who simply accepts or rejects the sheet. Visibility is key hence why we have designed a traffic light system to keep the recruiter updated. Understanding the demands of temporary workers we also enable a paper system to be used, managed quickly and efficiently through our unique online dashboard visible 24hrs per day.
Quba's E-timesheet process
Worker and Client (Approver) receive e-timesheet activation email
Worker completes online timesheet at the end of the working week and the approver receives a timesheet waiting for approval email
Approver either approves or rejects timesheet
- Quba receives automatic notification, pays the worker and invoices the client