Recently I've been doing some banking paperwork in which i had to submit my proof of income. I work as a freelance graphic designer on Fiverr Freelance Marketplace and Istockphoto, so i wonder How to request Fiverr to send me Certificate of Earning or Proof of Income letter so that i can show it to the bank.
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4 Answers
Tax returns.
Neither Fiverr nor istockphoto are your employers so they aren't obligated to track your earnings or send you records. It's up to you to maintain income records.
Since these sites are not your employers no bank should need anything from them. The bank is treating you like a "employee" of these sites, which you are not. You are self-employed even if you use sites like fiverr and istockphoto to sell your merchandise/services.
What the bank wants to see is a record of earned income... this is customarily done via tax returns for the last few years. You can also take your records from the bank and highlight deposits from these companies to further verify your income.
I've never used fiverr. So, I'm not 100% sure about their payout method. But I do know istock simply deposits funds into your account when you ask for them.
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Yes i understand, Thanks for your reply. But if you do freelancing on upwork (odesk) they provide a certificate of earning. i don't earn enough to file an income tax. I am a student i do part-time freelancing. Please have a look at odesk certificate of earning goo.gl/erDvef Commented May 7, 2016 at 4:44
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I've never used oDesk... can't comment on that. Imagine you sell items at a flea market... would you expect the owners of the flea market to provide you an earnings statement??? Essentially, that is what Fiverr and iStock are... flea markets for people selling (digital) goods WAY under traditional pricing. In addition, if you didn't make enough to file taxes ($600/job or $4k/yearly) then what on earth would a bank need earnings statements for?? If you did make $4k or more last year and failed to file taxes.. well that's your error.– ScottCommented May 7, 2016 at 5:25
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I got my statement of earning upon request from fiverr. Thanks for your help @scott Commented Jun 5, 2016 at 6:28
There are a couple of options, depending on what the bank will accept.
Invoices
Download (if the website makes this available) or create your own invoices which detail who the client is, what the job was for, the date and the amount.
Example (from http://www.wordmstemplates.com):
Business Accounts
If your business has a set of accounts for the last year(and if you're freelancing, then you have a business, even if it's just you), then you can use those as proof of income. Usually you'll need a set of (basic) accounts to do your taxes, even if it's just a list of incomes - expenses. Sometimes banks will need your accounts to be signed off by a registered accountant, depending on what they need the proof for.
I prepare my own accounts (not a registered accountant) and I have found that banks are usually okay with them. The only case where they wanted them signed off was when I was applying for a particularly large loan.
Getting your accounts signed is easily enough. I approached an accounting firm and they signed mine off for a small fee.
I have used both of the above (Invoices and Accounts) as proof before, and they were accepted both by my local revenue office and bank without any issues. However, if you have issues:
Letter from the website
Some websites offer a certificate of earnings, like upwork, it would be a matter of contacting the freelancer support and asking them if they do too.
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Thank you for your reply! It's very helpful! Actually i sent a message to where i work as freelancer but i don't think my email was effective enough! one of them refused by saying we don't support "certificate of earning". Bank does not want the invoices they just want a letter from the freelancing company that i work as a freelancer. My email did not have the desired effect. Can you please give your expert advice on what to write? and do you think i should write to them again? Commented May 6, 2016 at 18:48
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Do you have one client, or several? If your bank wants a letter from your client, that sounds like something they'd request from an employee, rather than a freelancer.– user152Commented May 6, 2016 at 18:55
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I have several clients! The bank does not want letter from client but The Freelance Marketplace for which i'm working, in this case "FIVERR" or "istockphoto". Thanks Commented May 6, 2016 at 18:57
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@AmirDe What about screenshots of the jobs? If you can take a screenshot of the website with the list of jobs (how about a report of the jobs, with the amounts). It seems really odd that the bank doesn't accept invoices! It should for businesses! Not everyone works on websites and invoices are the usual proof of income.– user152Commented May 6, 2016 at 19:36
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I talked to two different banks, they asked for written proof just like certificate of earning from upwork. Commented May 6, 2016 at 21:17
You can ask them to send your earning certificate till the date, you want it. Moreover, you also ask your bank to give your certificate for the earnings you got from these online platforms.
If you use a platform that tracks all your invoices by customer, you can provide a paper/electronic copy of the report that this platform provides as this can also be used for your tax purposes (ie, income earned for income tax reporting purposes). Since this is used for tax purposes, the bank can also use that for credit purposes (or the resulting tax return from the previous year).
