With the implementation of the new Dashboard interface, we are currently in the process of updating our documentation and some pages may be out of date. Thank you for your patience. Please contact our support team if you need any assistance.
If you have connected your Stripe account and someone contributed to your Collective using a credit card, the process is automated. The money will flow through to your bank account via Stripe, and the amount will automatically be credited to the balance of your Collective.
The bank transfer process is semi-manual. The payer selects 'bank transfer' at checkout and is automatically provided the instructions you specified in your receiving money settings, along with a unique ID code. They proceed to make the payment, using the code as a reference.
This transaction shows up in the 'pending bank transfers' section of your settings. It shows the amount, the contributor, and the unique ID code (order#).
When the money shows up in your bank account, find the matching transaction under 'Pending bank transfers' and click 'Mark as completed. Once you do, the money will be credited to your Collective balance and the payer will automatically receive a receipt by email.
If a pending transfer is cancelled, click "Mark as expired" to remove it from this list. Otherwise it can just sit here and nothing will happen one way or the other.
To represent money that has arrived for the project outside the Open Collective platform in your Collective's budget, use the 'Add Funds' option available in the Actions menu on the Collective page.
To specify the source of the funds, search for and select an existing Open Collective profile, or create a new individual or organization profile.
If you select the Collective itself as the source, it will credit your budget without doing a corresponding debit—this is a good way to add historical transactions or easily add funds without needing to set up a profile for their source.
Then set the amount and click 'Add Funds'.
Since Independent Collectives use the platform for free, there is an optional platform tip when adding funds manually. If you feel the platform is adding value, select a tip amount (the payment will happen later via Platform Settlement Expenses).
There are some workflows you need to be familiar with to enable the smooth ongoing running of your independent Collective. As you are in control of and responsible for the back office admin, it's up to you to process money coming in and out.
To spend money from your Collective balance, the payee needs to submit an expense.
To see all expenses for your Collective, click 'Expenses' under the 'Budget' menu.
Once submitted, the expense will be pending. You (or another admin of your Collective) have the power to approve or reject expenses. Expenses must be approved by an admin before payment.
Click on the expense to see details about what it's for, who submitted it, associated receipts, etc. It's up to you to set the requirements for expenses to be approved.
Once approved, you can click "Go to Pay".
The payment options depend on what payout method the payee has selected and whether or not you have connected your Wise and/or PayPal accounts in the 'Sending Money' section of your settings.
If you have connected Wise and/or PayPal, you can pay with one click through those payment processors.
If you have not connected these accounts through Open Collective, or simply wish to process them manually, select the manual option (if you haven't connected any payment processors manual will be the only option).
You can add any payment processor fees here, and they will be debited from the Collective balance along with the principle payment amount.
If you wish to represent expenses previously paid but don't need to actually move any money or show the payee for each expense, you can select the Collective itself as the payee. This will debit the amount from the balance and record the details of the expense.
Please note under a certain amount owed (usually $10) we don't trigger the settlement process.
A special type of expense is created when you owe Open Collective money from platform tips. Platform tips are an optional amount added on top of contributions and added funds.
When a payment with a tip goes through Stripe, the tip is automatically diverted to Open Collective and you don't need to do anything.
If a tip is made with a bank transfer transaction, the money—including the tip—will arrive in your bank account. Similarly, if you give a tip when adding funds manually, it represents money sitting in your bank account already. Therefore, Open Collective has to submit an expense to get paid.
Platform Settlement Expenses will automatically appear once per month if any tips are due to be transferred to Open Collective. You can proceed to approve and pay it like any other expense.
