Invoice Collection
Automate invoice uploads and buyer details with seamless SFTP integration.
Watch Out!
- Invoice collection is mandatory for any payment to be considered eligible for settlement.
- Turnaround Time (TAT) for the payment settlement will commence from the day the invoice is uploaded.
- Ensure each invoice should contain the following details:
- Name of the customer.
- Date of purchase.
- Description of service.
- Exact payment amount (no rounding off).
- Address of the business.
SFTP (Secure File Transfer Protocol) streamlines the process of sharing invoices. This feature is designed to improve the efficiency of uploading invoices and providing buyer details. SFTP integration will help you automate the process at your end and streamline it better.
When submitting invoices under your path, create a sub-folder labeled with the upload date (in YYYY-MM-DD format). Each uploaded file within this sub-folder should follow the naming convention 'InvoiceNumber.pdf'. For example, a sample file path would appear as follows: invoiceUpload/automated/MID/YYYY-MM-DD/IR1289.pdf.
Watch Out!
Ensure the filename or date folder does not include the / character.
To configure these folders for your specific business needs, consider the following key points:
- Public Key: We need your Public Key to set up and configure these folders uniquely for your business.
- IP Whitelisting: For added security, we will perform IP whitelisting to ensure that only authorized IPs can access and upload files to the SFTP.
As part of regulatory compliance, all transactions settled to offshore accounts are subject to AML (Anti-Money Laundering) and Sanctions checks conducted by our Authorised Dealer (AD) bank partner. The Razorpay system captures successful transactions, but they may still be flagged during settlement for further review.
- Razorpay emails you daily with a consolidated list of flagged transactions.
- These flagged transactions are successful payments in the captured state within the Razorpay system. However, further information is needed for settlement to your offshore account.
- Email Subject Line: Additional Details Required - [Business Name]_MID.
- Providing the requested details is essential to clear the flagged transactions for settlement.
- You must provide the requested information within 5 working days of receiving the email.
- Transactions for which all required details are provided within the stipulated TAT may get cleared from the flagged list and processed for settlement.
- Examples of requested details: Full name, address, ownership, percentage of ownership, nature of business, purpose of payment, business website, business lab, company, etc.
- It is mandatory to share all requested details without any omissions.
- Failure to provide the required information within the TAT may result in the auto-cancellation of flagged transactions.
In such cases:
- The business entity can choose to refund the payment using Razorpay API/Dashboard.
- Alternatively, Razorpay will lien mark these funds as part of our AML policy.
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