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May 5, 2021

Paying Vendors on Liquid With an Express Account

Learn how you can pay vendors who have invoiced you via Liquid.

Paying Vendors on Liquid With an Express Account

Liquid News Finance and Accounting Freelancer Management Operations

Liquid is the fastest and most compliant method to contract and pay your freelancers,  contractors, vendors, and suppliers in the US and around the world. If you aren’t a user of Liquid, you can still make payments via Liquid if you receive an invoice from your freelancers,  contractors, vendors, and suppliers. It’s quick, easy, and secure

Vendors simply create an invoice just as they would for an existing Client. After receiving an email inviting you to pay an invoice, you’ll either create an Express account or Pay as Guest — and your Vendor will receive their payment in 2-5 business days. You simply provide some basic business information along with payment information — then you’ll pay a flat fee of either $3 per domestic invoice or $8 per international invoice to complete each payment. 

How to review and pay vendor invoices with an Express Liquid account

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When a Vendor has used Liquid to invoice you, you will receive an email from Liquid. The email will show you the invoice amount, the name of the Vendor requesting payment, and a note written by your Vendor. In addition, the invoice will be attached to the email in PDF format. 

Provided you would like to pay the invoice, press the Pay button. Otherwise, you can simply ignore the email.  

Creating Express Account in Liquid

If you have already paid an invoice via Liquid, then click Log In to log in with your email address and password. You can skip ahead to learn how to review and pay invoices.

If this is your first time paying an Invoice via Express Pay, start here.

If you’d like to create an Express Account, simply press Create Account. Or, you can press Pay as Guest to pay without creating a Liquid account. If you are paying as a guest, you’ll skip the login information step and can skip ahead to the Express Business Profile Setup

Create login information

  1. Clicking the link will open up Liquid in a browser. 
  2. Enter in your First Name, Last Name, Email address, and Password. Confirm your Password and check off the box to confirm that you accept Liquid’s Terms of Service. Then press Create Account to proceed to the next step.

Next you’ll enter some basic business information into Liquid.

Express Business Profile Setup

  1. Next, enter your legal name as it should appear on legally binding business contracts.
  2. Then, review the categories of businesses that are restricted from using Liquid due to our banking and financial service provider partnerships, click the checkbox to confirm that your business is not in one of these restricted categories, and then press the Next button. 
  3. Then, enter your tax ID. If you selected Sole Proprietor or Single-member LLC, you’ll be able to enter your EIN or SSN. If you selected any of the other business structures, you will have to enter your EIN.
  4. Next, you’ll enter the address for your business. This address will be used for your contracts, and will be used by Liquid to verify your business. 

The next section is adding your bank account information.

Payment Information

  1. Next, you’ll add your bank account information via our partnership with Plaid. You can choose to instantly and securely link your bank account via login or by manually entering your account number and routing number.
  2. Next, you’ll let us know whether the bank account you’ve connected is a Business Account or a Personal Account and whether your bank account address is the same as your business address.  If it is different, you’ll be prompted to enter the address associated with your bank account. 
  3. Finally, you’ll press the Finish button to view the invoice from your vendor.

If you added your bank account information by manually entering your routing number and bank account number, you will need to verify your microdeposit amounts before the Pay button becomes available. To verify your microdeposit amounts, go to Settings —> Payment Methods and press the red Pending Manual Verification chip.

Review and Pay Vendor Invoice

  1. Liquid will then show you the invoice from your vendor. 
  2. Just above the Pay button you will see the ACH transaction processing fee that will be applied to your invoice payment. This fee is typically $3 per domestic invoice paid and $8 per international invoice paid. 
  3. If the invoice payment amount will be converted by Liquid into a foreign currency, you will see an estimate of the amount that the Vendor will receive in that foreign currency.
  4. Provided you would like to pay the invoice, press the Pay button. There is also the option to Reject the invoice, which will send a notification to the Vendor that the invoice has been rejected, along with your reason for rejecting it.  

The invoice payment will be initiated and your vendor will receive payment in 2-5 business days.

If you have created an Express account, this Vendor will now appear in your Vendors section. You’ll also be able to see the functionality available to you in Liquid, including managing your contracts and Work Orders with your Vendors, and approving and paying Invoices to Vendors across the world. 

Managing Freelancers and Vendors?

Our customers report saving 20 hours per month (on average) when they use Liquid’s complete contractor and vendor management system.

    Express Pay with an existing account in Liquid

    If you have previously paid an Invoice via Liquid, then you’ll press Log In to sign in with your email address and password after pressing the Pay button in the email notifying you that you have an Invoice to pay. Then, you will be prompted to confirm which business should be associated with this invoice. You can either select an existing business or press + New Business to create a new business to pay this specific invoice. 

    Review and Pay Vendor Invoice with an existing account in Liquid

    1. Liquid will then show you the invoice from your vendor. 
    2. Just above the Pay button you will see the ACH transaction processing fee that will be applied to your invoice payment. This fee is typically $3 per domestic invoice paid and $8 per international invoice paid. 
    3. If the invoice payment amount will be converted by Liquid into a foreign currency, you will see an estimate of the amount that the Vendor will receive in that foreign currency.
    4. Provided you would like to pay the invoice, press the Pay button. There is also the option to Reject the invoice, which will send notification to the Vendor that the invoice has been rejected, along with your reason for rejecting it.  

    The invoice payment will be initiated and your vendor will receive payment in 2-5 business days.

    In addition, this Vendor will now appear in your Vendors section.

    Simplify vendor and contractor management  

    Managing contracts, compliance, invoices, and payments can quickly become time-consuming and error-prone when working with multiple freelancers and contractors. Liquid is your one-stop shop for contracts, SOWs, onboarding, communications, project and task assignments, invoicing, payments, and much more. Plus, Liquid makes it easy to work with freelance talent wherever they are located, with payments to 175+ countries.

    reduce errors with Liquid

    Our users save time and money by relying on Liquid for contractor and vendor management. Joe Vezzani, CEO of LunarCRUSH, says, “Each time we hire a vendor or contractor, Liquid saves me 2-3 hours. Before, I would onboard each vendor 1 by 1 with paperwork and banking information. Now I simply add their email address to Liquid and tap ‘invite’.”

    Sign-up to try Liquid today!

    Category: Liquid News Finance and Accounting Freelancer Management Operations

    Updated: May 5, 2021

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