How to set up payroll streams and pay multiple people on Solana
A generalized framework for organizing employee and contractor info, and making payments using Streamflow on Solana.
Organizing employee info and setting up multiple salary payments can be daunting at first, but we’ve designed our token distribution platform to automate as many tasks to enhance the payroll process as possible.
Among many other time-saving features, our platform is equipped with a Batch Payment Creation feature allowing users to create streams to employees in bulk via CSV uploads.
Here’s a guide on how to use Streamflow as your Web 3 payroll system and set up streams in batches for your employees and contractors.
Creating a CSV/spreadsheet to organize payroll expenses
We highly recommend organizing your employees within a spreadsheet containing columns including Employee Name, Email Address, Monthly salary, Wallet address, Bonuses, and Refunds, similar to this:
This spreadsheet will give you an easy-to-read overview of your company’s expenses in regard to payroll and employee compensation. Duplicate this spreadsheet every month and update the bonuses and refunds to reflect the up-to-date balances.
Creating a CSV/spreadsheet for batch payment creation
To create a CSV to upload to our platform you can adapt the CSV mentioned in the previous section and rearrange some of the sections or start from scratch.
When you create this spreadsheet your columns should appear in the order of Amount, Wallet Address, Title, and Email Address.
The “Amount” will be the sum of their stream for the month, year, or whatever increment of time you’d like to use to segment their pay. For instance, at Streamflow, we create new streams for our employees each month, but the rate at which funds are streamed is entirely up to the employee. They can choose to receive payouts by the minute, the hour, the day, or even weekly. It’s also important to remember that the “Amount” section can only include “.” to separate dollars and cents.
After including your employee’s wallet address, add a “Title” section to log a description of each stream (i.e Jane’s March Salary).
Lastly, include your employee’s email addresses so they can receive notifications whenever funds are auto-withdrawn to their SPL wallet.
The CSV/spreadsheet should look something like this:
You can also access our batch payments creation template, by clicking on the “Upload CSV” button and downloading the template.
Creating vesting contracts and uploading CSV
Now that you have a CSV file prepped with your employee payroll info it’s time to set your vesting settings.
If you’d like to know the ins and outs of readying up a vesting contract you can read our How to set up token vesting on Solana with a cliff time using Streamflow article.
Once you’ve completed the vesting settings, you can scroll down to the “Recipients” section and select “Upload CSV.” Select the CSV file you’ve prepped, click “Create Vesting Contract,” and once the transaction is completed you’ll be able to view all of your newly created streams in the “All Streams” tab.
About Streamflow
Streamflow is a token distribution platform that enables organizations (and individuals) to distribute funds safely and securely. Streamflow is the market leader on Solana for token vesting services.
More resources:
Website: https://streamflow.finance
Twitter: https://twitter.com/streamflow_fi
Medium: https://streamflow.medium.com
Discord: https://bit.ly/3ssJdu7
