fbpx
September 30, 2019

Simplified Payments with Liquid

Liquid helps you make payments faster to your freelancers, consultants, contractors, suppliers, and vendors faster. Here’s how.

Simplified Payments with Liquid

Liquid News Finance and Accounting

Paying freelancers, independent contractors, consultants, and vendors can be annoying. With Liquid, you can approve and pay invoices within minutes. By setting up your invoice approval process, you can streamline payments and avoid future headaches.

Paying Freelancers, Contractors, and Vendors with Liquid

We power the liquid workforce.

liquid powers your liquid workforces


Paying Freelancers, Contractors, and Vendors with Liquid without Invoice Approvals

As Invoices come in from your Vendors, Liquid makes the payment process a breeze: 

  1. When an Invoice is sent by a Vendor, you’ll receive an email, but your Liquid dashboard will also alert you of any Invoices that are ready for payment. You can track the status of your Invoices by selecting the Invoices tab from the left menu options. The table will show you which Invoices are paid, unpaid, and due.
  2. Click on an Invoice to view all of the details. With automatic verification, Invoices are reviewed against agreed-upon Work Orders. Because you have not set up Invoice approvals, the Invoice can be paid immediately.
    • If the Invoice was sent to you by an international Vendor, then you may not be able to pay the Invoice until their bank account has been verified. The international bank account verification process automatically completes within 12-48 hours.  
  3. With the Invoice selected, you can choose to Pay now or Schedule Payment. Once your choice has been made and your payment source has been selected, all you have to do is click the Pay Invoice button.

And if your Vendor has sent you an Invoice outside of Liquid, you can always upload that Invoice to Liquid for approvals and payment.

Paying Freelancers, Contractors, and Vendors with Liquid with Automated Invoice Processing

If you’d like to pay Invoices with an invoice approval process, here’s how.

First, set up your organization settings for your invoice approval process through the Settings tab in the left menu options:

  1. Each user within your organization can be assigned various roles of what they can do and access within Liquid through the Roles tab. Here you can assign users that are Department Approvers, Department Users, Accounts Payable, and more.
  2. Viewing the Users tab will show all users within your organization alongside their title and roles that you’ve assigned, along with their level of approval status.
  3. The policies tab allows you to create rules and restrictions around approvals, amounts, and changes. This is where you can set up minimum invoice amounts that must be approved by different levels within your organization, when changes to a bill are allowed, and how you’d like to pay your bills.

As Invoices come in from your vendors, Liquid makes the approval and payment process a breeze: 

  1. When an Invoice is sent by a vendor, you’ll receive an email, but your Liquid dashboard will also alert you of any invoices that are ready for payment. You can track the status of your invoices by selecting the Invoices tab from the left menu options. The table will show you which invoices are paid, unpaid, and due.
  2. Incoming Invoices are automatically routed to the right team members for approvals.
  3. Click on an Invoice to view all of the details. With automatic verification, Invoices are reviewed against agreed-upon Work Orders. Once all approvals within your organization have been met, the invoice can be paid. 
  4. With the Invoice selected, you can choose to Pay Now or Schedule payment. Once your choice has been made and your payment source has been selected, all you have to do is click the Pay Invoice button.

And if your Vendor has sent you an Invoice outside of Liquid, you can always upload that Invoice to Liquid for approvals and payment.

Standardizing your approvals and payments with Liquid protects you against unintended overbilling, and simplifies your invoicing systems.

Paying freelancers with Liquid is simple and easy. Streamline your payments and approval process today!

Sign-up to try Liquid today!

Category: Liquid News Finance and Accounting

Updated: July 13, 2021

Leave a Comment

Your email address will not be published. Required fields are marked *

Get the latest insights and news on the liquid workforce.

 

Complete vendor and contractor management.

Liquid gets you paid

Learn More