Why Do I Need to Upload an Invoice When Requesting Payment?

When you request a payment through LiquidTrust, you'll be prompted to upload a copy of the corresponding invoice. This step is a crucial part of our payment process and is required for several important reasons, primarily to satisfy the requirements of our banking partners and ensure a secure and compliant platform for all users.

Here's why uploading an invoice is necessary:

• Verification of Transaction Details: The uploaded invoice serves as essential documentation that outlines the specifics of the transaction. This includes:
  • The services rendered or goods provided.
  • The agreed-upon price and any applicable taxes.
  • The names of both the paying client and the invoicing party.
  • The invoice date and unique invoice number. This detailed information helps us understand the nature of the payment request and ensures accuracy in the transaction.
• Proof of Business Relationship: Our banking partners require documentation that substantiates the business relationship between the Payer and the Vendor. The invoice acts as tangible proof of a legitimate commercial interaction. It demonstrates that the payment request is for actual goods or services exchanged, rather than an unsupported transfer.
• Compliance with Regulatory Requirements: Financial institutions operate under strict regulatory guidelines aimed at preventing fraud, money laundering, and other illicit activities. Requiring an invoice helps us comply with these regulations by providing a clear audit trail of each payment. This documentation allows us to verify the legitimacy of the funds being transferred.
• Supporting Due Diligence: The invoice provides our banking partners with the necessary information to conduct their due diligence on the transactions processed through our platform. This helps them assess risk and maintain the integrity of the financial system.
• Ensuring Payment Accuracy and Resolving Disputes: While primarily for compliance, the uploaded invoice also benefits you and your clients. It provides a clear record of the agreed-upon terms, which can be helpful in resolving any potential discrepancies or disputes related to the payment.

What kind of invoice should I upload?

Please ensure that the invoice file you upload is a complete and accurate representation of the billing document you have provided to your client. It should clearly show the details mentioned above (services/goods, price, parties involved, date, invoice number). No other specific formatting is required.