Time Based Payout
This payment in ERPNext refers to the procedure of disbursing and calculation of payments of contractors or employees according to the time they have spent or work on a task or project.
This aspect is useful in those industries where the payment of employees or contractors is tied to milestone achievements or hourly rates. The newer version of ERPNext helps time-based payment by accurately accounting for the time worked by individuals against project tasks or milestones. It enables organizations to set up hourly rates or payment terms for various roles or projects so that fair and transparent payment for work done is ensured.