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0f710f83
Community Member

Invoice vs Receipt vs Memo

Hi,

 

As a client I am really confused with invoices, receipts and memos.

I prited all of them from one month and tried to find out how they fit together. I wasn't too successful.

 

Receipts seem to have the fee included.

Invoices on the other hand include the description of the job done.

Memos?

 

And why is it, that there are sometimes Invoices but no Receipts?

 

In what order are those created and what does my bookkeeper need?

 

Please help me to clearify those questions.

 

Thanks!

3 REPLIES 3
kochubei_valeria
Community Member

Hi Clemens,

 

For fixed-price contracts you'll see several transactions in your Transaction History as the funds move from your account to Escrow and then to the freelancer's account. You can find detailed information about those transactions here.

 

Depending on the transaction, you'll be able to find either invoice (for funding requests,) receipt (for payments from your payment method to Escrow,) or a credit memo (for payments from Escrow.)

 

The standard 2.75% payment processing fee will have a receipt instead of an invoice because it is a per-payment fee and not necessarily associated with a particular invoice.

~ Valeria
Upwork

Whaatt???

Which one do I use for tax???

Hi Ruth,

 

Please check with your local tax advisor on how to report income from Upwork in your country. We can't provide tax advice.

 

Thank you.

~ Aleksandar
Upwork
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