Wise invoice: How to create, send and pay

Wise Business offers customers an integrated invoicing tool that can help you create professional invoices and receive customer payments in a selection of currencies, including PHP, USD, GBP and EUR, with no fees.

This guide walks through how to create an invoice in Wise, including tracking payments and using automatic and manual reconciliation tools.

How does invoicing work with Wise Business?

You can use Wise Business to create, send, track, and pay invoices. It also allows businesses to automatically email invoices to customers.

Your customer doesn’t need a Wise account to pay their bill. All they’ll need to do is click on the invoice to make their payment using their normal bank account.

The payment methods available depend on the country your business is registered in - Wise Business accounts in the Philippines offer ways to receive local payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD, and USD. These payments are often cost effective and quick for customers, allowing them to avoid sending cross-border wires, which can come with high charges.

There’s no receiving fee from Wise Business when you’re paid using the local account information you can find in the Wise Business app.

Wise Business accounts also come with SWIFT account information to receive payments in a broader selection of 23+ currencies. There are low, fixed Wise fees for receiving incoming transfers using SWIFT account information, which depend on the currency.

What is a Wise invoice?

Wise Business invoices offer a professional, integrated billing tool for cross-border businesses getting paid in a selection of major currencies.

Open a Wise Business account to create professional Wise Business invoices to share with your customers. You’ll be able to customize your invoice to reflect your brand identity and receive customer payments to your Wise Business account, in a selection of currencies, using local payment methods.

Benefits of international invoicing with Wise Business

Invoicing through Wise Business can be beneficial for Filipino businesses looking to streamline administration and connect with customers more easily.

Here are a few of the benefits of using the Wise Business invoicing feature:

• Create a professional invoice with your company branding, and receive payments to your dedicated business account
• Offer your overseas customers the opportunity to pay invoices using their home currency, avoiding unnecessary currency conversion costs
• Allow your customers to make payments with local bank transfers, which is usually cheap or free for them, cutting out cross-border wire fees
• Hold a balance in foreign currencies, and use it to pay suppliers, contractors or taxes overseas
• Reduce your administration by creating a sleek invoicing template which is automatically emailed to customers upon completion
• Track and reconcile customer payments with Wise, or use Wise’s accounting integrations to manage your finances through a platform like Xero

Creating and sending an invoice in Wise Business

When you set up your Wise invoices to get paid, you can customize the template to reflect the information required for your specific business type, and add in your logo or company branding.

The branding shown on the invoice will be the same as your Wise Business profile picture, allowing you to keep a consistent look and feel to your business collateral more easily. You can update your Wise Business profile picture yourself if you choose to, or you can use the Wise Business multi-user access feature to allow a team member with manage business details permissions to do this for you.

Here’s how to create and send an invoice in Wise:

1. Log into your Wise Business account and select the Payments tab.
2. Tap Invoices, then Create an invoice.
3. Follow the prompts to populate the invoice fields - we’ll look at the information you’ll need to include in just a moment.
4. Preview and double-check the PDF draft.
5. Select Create invoice or Create and send invoice.

If you choose the option to create and send your invoice, it will be automatically sent to your customer using the email address you’ve entered into the invoice fields. You can also download your invoice for your records.

Key fields to include on your Wise invoice

When you create your Wise invoice, you’ll be prompted to include key information to allow your customer to pay you.

This can include:

• Your company branding or logo
• The invoice number and issue date
• The name and contact information of the person you’re invoicing
• Details of the products or services you’ve sold
• The item price and total price to be paid, including any relevant discounts, fees or taxes
• The currency you want to be paid in
• Details of how you want to be paid and the payment due date

Because Wise invoices are fully customizable you’ll be able to add your own branding to create a professional, sleek and easy-to-pay invoice for your customer.

How clients pay an invoice sent with Wise Business

The experience of paying for a Wise invoice is straightforward and intuitive. Your customer will simply need to check everything over and set up their transfer using the Wise account information that you’ve included in the invoice.

Because Wise Business offers account information in multiple currencies, your customer can pay in their preferred currency, often with a local payment method. This is fast, secure and often cheap or free for the customer.

Here’s how to pay for an invoice sent from a Wise Business account:

1. Review the invoice to check that it is correct.
2. Click the option to Pay now and select your payment method
3. Set up your payment using your bank or Wise account.
4. Enter the invoice number or the reference number as a message attached to the payment.
5. Your payment will be processed and sent.

When paying, your customer must enter either the invoice number or the invoice reference into their payment message to allow you to reconcile the invoice upon receipt.

Tracking invoices with Wise Business

Within your Wise Business account, you can view, track and manage your invoices and payments to keep your records up to date. Once you’re logged into your Wise Business account, you can use the filter tools to see the status of your invoices at a glance.

Your funds land directly in the multi-currency balance upon clearing, triggering an automated notification that eliminates manual reconciliation. And if there’s ever any need to change or cancel an invoice, you can also do so manually, allowing you to manage and reconcile payments with just your phone.

Here’s how to track and manage an invoice in Wise:

1. Log into your Wise Business account and select the Payments tab.
2. Tap Invoices, then Create an invoice.
3. Use the onscreen tools to filter your invoices by paid, due, overdue or expired.
4. Select the invoice you want to view or manage.

Once you’ve selected an invoice, you can view the invoice details, update the status to show it as paid, cancel the invoice or download it and get the payment link.

Paying invoices with Wise Business

If you receive a standard invoice from a supplier or contractor, you can easily settle the bill directly through your Wise Business account. Instead of dealing with traditional bank wires that incur high cross-border fees and hidden exchange rate markups, you can use Wise to send payments to over 140+ countries. This allows you to pay your global partners quickly and securely in their preferred local currency using real-time tracking from your phone.

For businesses managing multiple bills at once, Wise Business streamlines the administrative workload with powerful treasury tools. You can fund your transfers from a PHP balance using convenient local payment methods like InstaPay and PesoNet.

There is also a feature that automatically retrieves invoices from a user's email address, into their Wise Business account.

If you are handling large operations, you can even use the batch payments feature to upload and pay up to 1,000 invoices simultaneously with just a single transfer, saving your team hours of manual data entry.

Wise Business: Smarter invoicing for global businesses

• Send from PHP with both Instapay and Pesonet.
• Fast and secure payments to 140+ countries with no exchange rate markups.
• Always get the mid-market rate with transparent conversion fees starting from 0.57%.
• Set up Batch Payments to make up to 1,000 payments in a single click.

➡️Start Paying Overseas Invoices with Wise Business

Wise Pilipinas Inc. is regulated by the Bangko Sentral ng Pilipinas. You may visit the BSP website for more information about its regulatory framework and consumer protection policies. To reach Wise, visit help center here.

Frequently asked questions

1. Are there any fees for receiving a payment through a Wise invoice?
There are no Wise fees to receive incoming payments using local account information (non-SWIFT, non-wire), in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD, or USD. If you receive an incoming payment using SWIFT account information, there is a low, fixed fee to pay, which varies by currency.

2. Can I use my Wise invoice records for official BIR tax reporting in the Philippines?
Wise Business invoicing records can be helpful as supporting evidence for your tax filing, but you may still find that you need to issue Bureau of Internal Revenue Receipts (Official Receipts or Sales Invoices), depending on your business type and activities. Get professional advice if you’re unsure about your Bureau of Internal Revenue (BIR) tax reporting duties.

3. How long does it typically take for an international client’s payment to arrive in my account?
The delivery time for incoming Wise Business payments depends on the bank or service provider your customer uses to pay with. However, as Wise Business accounts offer local account details, transfers are often quick or even instant, depending on currency and payment method.

** Transaction speeds vary and may not apply to all transfers.