> ## Documentation Index
> Fetch the complete documentation index at: https://docs.bolto.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Invoice Schedules

> Recurring pay periods for contractors — frequencies, invoice timing, and proration.

An **invoice schedule** defines the recurring pay periods for your fixed-rate and hourly (timesheet) contractors. Bolto generates each period's invoice and payment automatically — no manual invoicing needed.

Manage schedules from **Payments → Invoice schedules** (Owner only). Contractors are assigned to a schedule in their pay configuration.

***

## Creating a schedule

* **Frequency**: **Monthly · Semi-monthly · Weekly · Bi-weekly**
* Monthly schedules take a day of month (choosing the 31st clamps to the last day of shorter months); semi-monthly runs on the 1st and 15th; weekly and bi-weekly take a day of the week
* A live preview shows the first pay period before you save

Schedules can be edited (monthly only), deactivated, and reassigned. To change a weekly, bi-weekly, or semi-monthly schedule, create a new one and move contractors over.

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## How each period runs

For every pay period on a schedule:

1. **Invoice generated — 10 days before the period ends.** Fixed-rate amounts are calculated (prorated for mid-period starts or terminations); hourly amounts are calculated from **approved** timesheet hours at the contract's hourly rate.
2. **Invoice due — 5 days before the period ends.** With Auto-Pay on, funding is charged automatically; otherwise you pay the invoice manually (Bolto reminds you 2 days before it's due).
3. **Contractors are paid** — funds typically arrive within about 2 days of the due date, depending on country and banking system.

<Warning>
  For hourly contractors, only hours **approved before the invoice generates** (10 days before period end) are included. Hours approved later roll into the next period — and an hourly contractor with no approved hours is skipped for that period.
</Warning>

### Proration

Fixed-rate amounts are prorated by days for partial periods — a contractor who starts mid-period or is terminated mid-period is paid for the days their contract was active.

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## What appears on the invoice

Each funding invoice covers the period's payments per contractor — their rate (or hours × hourly rate), any processing and currency-conversion fees, and, where applicable, recruitment fees. You'll see the full breakdown before paying.