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Invoice expenses

3 min read

Related Guidance

As you meet the below invoice-specific requirements, please also ensure that you also refer back to our high-level expense checklist. We also have separate guidance on reimbursement expenses.

Submitting an invoice

The below guidance is for when you - a vendor or contractor doing business1 with a fiscally-sponsored project of Raft Foundation - wish to submit an invoice for payment.

We use Open Collective as our expense management platform - the same platform that Raft projects use to raise and manage money.

To submit an expense, go to the project’s profile2 on Open Collective, click “Submit expense,” and select “Invoice.” The system will guide you through the process of uploading receipts and adding information about them.

Once you submit, your expense request will be reviewed by a member of the project,[^dis] and then reviewed and (if all below requirements and those of the Expense Checklist are met) paid by the Raft Foundation administrative team.

Non-US Recipients

International recipient? Using a non-US bank account? See International expenses.

Requirements

Raft’s invoice-specific requirements include:

  • If an independent contractor or consultant has been or will be paid $5,000 or more, or if the payment is to a project member,3 we must have a contract on file4 and the amount requested should follow the agreed-upon payment structure

Requirements for the invoice document:

  • The invoice must include standard information including: a unique invoice number, invoice date, vendor/contractor/consultant name, and their address
  • The invoice must be to “Raft Foundation” or “Raft Foundation Inc.” - not the project name
  • The invoice (and expense submission also, for that matter) must not use language associated with employment, such as “payroll,” and should show contractor independence (i.e., it should not say that a Project Lead “approved hours” or anything similar)
  • The invoice must list the goods or services provided, including the dates they were provided, as well as the rate, quantity, and subtotal for each, with enough detail such that a total outsider (e.g., an independent auditor) would have no questions
  • The invoice must show a total amount due

And for the Open Collective expense submission:

  • In the submission, the invoice number must match what is shown on the invoice
  • In the submission, the date must match the invoice date on the invoice
  • In the submission, unless there are many line items, the line item descriptions and subtotals should match those shown in the invoice
  • If there are multiple pdf documents that should be included, combine them into one or attach the others as additional documentation

Let us know if you have any questions!

Timing

Invoices should be submitted according to the timing agreed to in your contract, or if there is no contract:

  • For hourly contracts, submit monthly, by the 15th day of the following month
  • For monthly contracts, by the 15th day of the following month
  • For milestone- or project-based contracts, within ten days of completion

If you would like to submit an invoice or multiple invoices along a different timeline, or if you will delay submitting an invoice for some reason, please confirm with us in advance via email.

Footnotes

  1. See below) for when we require a contract on file. ↩

  2. If you do not have the link to the profile for the project you want to support, feel free to review the list of projects on our profile, or contact us and we will be happy to help. ↩

  3. A “project member,” here, is a Project Lead or Project Committee Member. ↩

  4. See Contractors for instructions on how to request a new contract. ↩

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