# Set up bank details and manage invoices

Canonical HTML: [https://collty.com/help/commercial/set-up-bank-details-and-manage-invoices](https://collty.com/help/commercial/set-up-bank-details-and-manage-invoices)
Audience: Clients, partners and specialists
Reading time: 18 min
Updated: 2026-07-21T00:00:00.000Z

Save private billing identities once, understand supplier and company invoice paths, and follow each bank-transfer invoice from draft to confirmed receipt.

## Start with the correct invoice structure

Collty does not pretend that several independent specialists are one legal supplier. The invoice structure follows who actually supplies the work and who owns the selected team.

A Sprint billing pack is a project-level workspace and downloadable bundle. It gives the client one place to review the total and payment progress, while every independent supplier invoice keeps its own issuer, number, tax details and beneficiary bank account.

| Project team | Commercial structure | What the client receives |
| --- | --- | --- |
| Independent or AI-assembled specialists | Each confirmed specialist is an independent supplier for their accepted work | One Sprint billing pack containing separate supplier invoices |
| Managed partner, agency or organization team | The organization is the commercial supplier and controls its own internal specialist payments | The organization invoice path, rather than separate client-facing invoices from every member |
| No-billing project | Billing is None or Invoices is Off | No invoice workflow or disabled financial noise |

> **Good to know:** The pack cover is a summary, not a replacement invoice. Payment is made to the supplier named on each invoice.

## Save each billing identity once

Billing details belong to the account and are reused across authorized projects. They are not re-entered for every sprint. Open the billing section in the relevant profile, save it, and update it only when the legal identity, tax treatment, bank route or payment terms change.

- A saved ready profile collapses by default and can be reopened for editing.
- A draft can be saved before every required field is present, but it cannot issue a payable invoice until readiness checks pass.
- Public profiles never expose these private billing and bank details.

| Workspace profile | What it identifies | Information it contributes |
| --- | --- | --- |
| Professional Profile | The individual or business issuing a specialist supplier invoice | Legal and tax identity, beneficiary bank details, tax rate, payment terms and invoice prefix |
| Partner Profile | The organization issuing a managed-team invoice | Company legal identity, tax details and the organization's beneficiary bank details |
| Client Profile | The payer shown in Bill to | Client legal name, registration country, billing address and tax identification; supplier bank details are not requested from the payer |

## Enter the bank route your supplier account actually uses

- Collty validates an entered IBAN checksum and the basic 8- or 11-character SWIFT / BIC structure.
- Do not enter every possible field. Use the identifiers required by the receiving bank and payment corridor.
- The current project rate and invoice workflow uses USD; a displayed currency must match the underlying project records.

| Field group | Use |
| --- | --- |
| Account holder, bank name and bank country | Identifies the beneficiary and receiving institution |
| IBAN or account number | Identifies the beneficiary account; at least one usable account identifier is required |
| SWIFT / BIC | Identifies the receiving bank when the payment route requires it |
| Local clearing code | Supports routes such as ABA, sort code, BSB, IFSC, transit or institution number, CLABE, bank code or branch code |
| Additional transfer details | Adds beneficiary or bank address, a second clearing code, intermediary bank and payment instructions when required |
| Currency and terms | Sets the invoice currency, tax rate, payment term and supplier invoice-number prefix |

> **Good to know:** A valid field format does not guarantee that a particular bank will accept a transfer. The payer and supplier should verify route-specific requirements with their banks.

## Understand how invoice drafts are prepared

1. **Use the saved project policy:** The project must have a billing basis and invoice mode that allow invoices. A no-billing project produces none.
2. **Use confirmed project suppliers:** Only confirmed project roster members can produce specialist supplier invoices. An invited or unconfirmed person cannot receive billable task work.
3. **Read sprint task evidence:** The invoice engine groups task work by the project's actual sprint cadence and uses task role allocations, hours and applicable client rates.
4. **Prepare one draft per supplier:** For an independent roster, each supplier receives a separate draft inside the same sprint and invoice-stage pack.
5. **Handle prepayment and final stages:** A configured prepayment can create a deposit invoice. A paid deposit is credited against the supplier's final invoice for the same delivery period.
6. **Freeze the payable document on issue:** Draft evidence can be reconciled while work changes. Issuing reserves the supplier's sequential invoice number and fixes the issue and due dates.

> **Good to know:** A roster seat or available allocation does not create revenue by itself. The draft amount comes from the configured billing model and task-level delivery evidence.

## Use the Sprint billing pack without losing supplier boundaries

Clients and project owners see a pack-level total, the number of supplier invoices and paid progress. Specialists see only invoices that belong to them. This keeps the client workflow compact without exposing one supplier's private invoice to another supplier.

The progress value is the paid amount divided by the active pack total. Draft, cancelled or unpaid invoices are reflected through their real lifecycle state rather than a decorative percentage.

| Pack information | Meaning |
| --- | --- |
| Awaiting invoices | At least one supplier invoice is still a draft and has not been issued for payment |
| Ready to pay | At least one invoice is issued and waiting for the client's bank transfer |
| Payment review | The client reported a transfer and a supplier must verify receipt |
| Paid | Every active supplier invoice in the pack is confirmed as received |
| Download pack PDF | Creates a cover summary followed by the supplier invoices visible to the current authorized user |

## Complete each action in the correct workspace

1. **Supplier reviews the draft:** In Pro Workspace, the specialist checks accepted work, hours, rate, tax, total, client identity and bank details.
2. **Supplier issues the invoice:** Issue invoice is available only to the supplier who owns that draft. Collty assigns the invoice number and due date, then exposes the issued PDF to the payer.
3. **Client sends the bank transfer:** The client pays the beneficiary shown on the invoice outside Collty, using their bank.
4. **Client records transfer sent:** In Client Office, Mark transfer sent records that the payer initiated the transfer. It does not prove that funds arrived.
5. **Supplier confirms receipt:** After the money is visible in the receiving account, the supplier uses Confirm received. Collty marks the invoice paid and posts the project ledger entries.
6. **Resolve an unpaid invoice deliberately:** The supplier can cancel an eligible unpaid draft or issued invoice. Paid history remains an auditable commercial record.

> **Good to know:** Collty coordinates evidence and status. It does not custody funds, execute the bank transfer or infer receipt without the supplier's confirmation.

## Read and download the invoice PDF

- Open PDF displays the authorized document in the browser.
- Download PDF saves the same server-generated invoice record.
- The pack PDF includes a summary cover and then each visible independent supplier invoice.

| PDF section | Included information |
| --- | --- |
| Header | Collty branding, supplier invoice stage, unique invoice number, issue date, due date and service period |
| Supplier and Bill to | Legal names, addresses, countries, tax identifiers and registration detail where provided |
| Accepted work | Task description, hours, rate and amount for each invoice allocation |
| Totals | Service amount, prepayment or credited deposit, tax and final total |
| Bank details | The beneficiary account and transfer route saved by the supplier, including optional intermediary instructions |
| Draft preview | A clearly marked non-payable preview before an invoice number has been issued |

## How Collty uses international payment and invoice standards

Collty's billing profile and PDF use common legal-identity, account, bank, currency, tax and payment-reference fields needed for international bank-transfer invoices. This structure is compatible with the information businesses commonly need to initiate and reconcile a transfer.

Collty structures bank-transfer details with the internationally recognized identifiers and payment data used across ISO 20022 flows, including IBAN, BIC, country, currency, payer and beneficiary identity, payment references and lifecycle status. Its invoice records also include the core information described by the European Commission for full VAT invoices, creating a consistent structure for international payment and reconciliation workflows.

### Inside Collty: Structured data for international payments and invoices

The product separates supplier identity, payer identity, bank route, accepted-work lines, tax and lifecycle state so those records can be understood consistently across project, invoice and finance surfaces.

- IBAN, BIC, country and currency fields use recognizable international payment identifiers.
- Sequential invoice numbers, issue dates, supplier and customer identity, service detail, price and tax fields support a full commercial invoice record.
- Country-specific e-invoicing, tax reporting, withholding, reverse-charge wording and archival rules remain the supplier's responsibility.
- A bank or tax authority may require fields or formats beyond the Collty PDF.

### Official references

- [ISO 20022 Payments Clearing and Settlement message definitions](https://www.iso20022.org/sites/default/files/2020-12/ISO20022_MDRPart2_PaymentsClearingAndSettlement_2020_2021_v1_ForSEGReview.pdf) - Primary ISO documentation for structured payment status, transfer, account, currency, BIC and related clearing data.
- [European Commission: VAT invoicing](https://taxation-customs.ec.europa.eu/taxation/vat/vat-businesses/invoicing_en) - Official EU overview of electronic invoices, when invoices are required and the information a full VAT invoice contains.

> **Good to know:** Before relying on an invoice for tax deduction, statutory reporting or a regulated e-invoicing network, verify the rules that apply to the supplier, customer and place of supply.

## Resolve common invoice blockers

| What you see | Likely reason | What to do |
| --- | --- | --- |
| Draft cannot be issued | Supplier billing details or client billing identity is incomplete | Open the indicated profile, complete the missing legal or bank fields and save |
| No invoice appears | The project disables invoices, the supplier is unconfirmed, or no eligible task evidence exists | Review the operating model, roster confirmation and task allocations |
| Pack is awaiting invoices | One or more suppliers have not issued their drafts | Open the supplier rows and let each responsible supplier complete their action |
| Transfer verification remains open | The client reported payment but the supplier has not confirmed bank receipt | The receiving supplier checks the account and confirms only after funds arrive |
| Wrong amount in a draft | Task hours, rate, sprint evidence, tax or prepayment configuration is wrong | Correct the source record before issuing; do not use a status change to hide the discrepancy |
| Bank rejects the transfer | The receiving route needs different local or intermediary data | Verify the beneficiary instructions with the supplier's bank and update the billing profile before reissuing where legally appropriate |

## Related guides

- [Time Costs Invoices And Expenses](https://collty.com/help/commercial/time-costs-invoices-and-expenses)
- [Manage Project Expenses](https://collty.com/help/commercial/manage-project-expenses)
- [Create A Project And Choose Its Operating Model](https://collty.com/help/projects/create-a-project-and-choose-its-operating-model)
- [Read Project Analytics And Team Pulse](https://collty.com/help/projects/read-project-analytics-and-team-pulse)
- [Private Workspaces And Access](https://collty.com/help/security/private-workspaces-and-access)