Fixed-price transaction history

Transactions on fixed-price contracts have more complex back-end accounting than on hourly contracts because funds are being moved around in more steps.

  1. Into your account from your billing method
  2. Out of your account into to escrow
  3. Out of your account to cover the payment processing fee
  4. Back into your account from escrow
  5. Sent from your account to the freelancer

On the transactions report, these steps will not appear in this order. For example, on the report, funds going from your account to escrow is the first step. The report shows transactions in the order they are processed by the system. If that looks confusing to you, just know that the steps above are what’s happening.

1a_TRX_history_1.png

Offer deposit and funding additional milestones

Hiring offers and new milestones as you to prefund the agreed amount into escrow. This will trigger three transactions on your Reports > Transaction History: one credit and two debits.

Milestone_1.png 

Transaction Type

+/-

Where is the money going?

Payment

Credit

Into your account from your billing method

Fixed Price

Debit

To escrow to fund the milestone (or full contract)

Processing Fee

Debit

To Upwork for this deposit’s payment processing fee

 

Approve milestone payment to freelancer

When you approve a milestone, the system moves funds from escrow to your account. Then, the money will be transferred from your account to your freelancer. Therefore you’ll see two new items on your Reports > Transaction History page.

Milestone_1a.png

Transaction Type

+/-

Where is the money going?

Payment

Credit

From escrow into your account to pay the invoice

Fixed Price

Debit

From your account to the freelancer to pay the invoice

 

Adding extra to a milestone or sending a bonus

This example shows a client releasing more than the funded amount on a milestone, a total of $13. $10 moves from escrow to the client’s account to the freelancer. The additional $3 is sent to the freelancer separately (shown on your report as a “Miscellaneous” charge).

5_extra_milestone.png

Both adding extra to a milestone and sending a bonus separate from a milestone are charged to your billing method without affecting your escrow balance. All bonus, miscellaneous, and hourly payments from the day are batched together and charged to your billing method in a single lump sum. The combined charge to your billing method will have a single payment processing fee line item on your transactions report.


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