Why would SumUp ask me for an invoice?
We’re required by our financial industry partners to check the legitimacy of all transactions to make sure they comply with our Terms & Conditions. This means that on occasion, you may be asked to share documentation to verify your transactions and business activity. On these occasions, our Security team will reach out to you via email to request an invoice to verify a payment.
Please keep in mind that accounts can be suspended until the information is verified, so the sooner you can get us the requested documentation, the sooner we can complete the review.
What’s the difference between an invoice and a receipt?
An invoice is an official document that confirms a transaction between a buyer and a seller. Normally it includes the quantity, name, and price of goods/services, date, payment type, invoice number, tax information, merchant name, customer name, and their respective contact details.
A receipt is proof for the payment for the cardholder issued by the merchant. It contains the quantity, name, and price of goods/services, date, payment type, tax information, name and contact details of the merchant, but usually no information about the cardholder. Therefore, an invoice is more detailed and required as proof for payment.
What makes a good invoice?
A detailed invoice, issued in the name of your company, should include:
Name of your company, your business address and telephone number
Your client’s name, their address, telephone number and email address (in case we need to contact them)
Date of invoice creation
Unique invoice number
Payment terms, the amount being charged, total amount owed and a clear description of what you are charging for
Payment due date
Payment information - credit card information if applicable, date of payment that matches the transactions on your Sales History
Your client’s signature