Invoices are used to pay people for work completed or their goods/services.
Within the invoice option, you can either upload your own invoice, or you can create one directly on the platform. You will be able to detail what the services/goods are, and can include multiple items
When someone uses invoices, they are treated as an independent contractor. If earnings exceed $600 in a year, they will be automatically issued a 1099 tax form to fill out per IRS regulations. (Reimbursements do not trigger the 1099 form). More info about taxes here.
or a Reimbursementfor purchases made on behalf of the Collective.
Reimbursements are used to pay people (often volunteers) back when they have made purchases for the group - in these cases, receipts are required so that we can ensure the requested amount matches the purchased amount in order to approve the reimbursement.
This is a great option for those admins who know already know exactly how much they want to pay/reimburse someone, and just want to invite them to the platform.
Sometimes a third type of expense, "Request a Grant" will appear on an Collective's page. This is because that Collective has submitted a grant proposal in order to be able to offer grants. More info here.
OCF uses a Double-Approval Process to pay out expenses: