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Payments

Recording payments and understanding balances

Record pending or received payments, understand advance applications, and reconcile what is still owed.

Payments are linked to a collaboration and can optionally be linked to an invoice. Their status distinguishes money expected from money received. Advances are tracked separately as collaboration-level receipts and become invoice applications when selected or automatically matched during invoice creation.

Record a payment

  1. 1Open Payments or the relevant invoice and choose the payment action.
  2. 2Enter the amount, currency, date, method, reference, and optional notes.
  3. 3Use Pending when payment is expected and Received once the money has arrived.
  4. 4Save and return to the invoice to confirm its status and outstanding balance.

Important calculations

  • Outstanding invoice balance = invoice total minus active received payments and applied collaboration advances, with a floor of zero.
  • A received payment can move an invoice to Partially Paid or Paid automatically.
  • Dashboard pending revenue and collaboration revenue use recognized received payments and exclude tax and fees.
  • Tax and fees are always calculated in your business currency. They are allocated against the last payment recorded for that invoice, after the invoice subtotal has been covered.
  • The payment profile and Payments list show Tax & Fees in your business currency; the original payment amount remains in the payment currency.
  • An applied advance reduces the invoice amount payable and the outstanding balance, but it is not duplicated as a direct payment record.

Related guides

Managing collaboration advances

Add an advance received for a collaboration, move it from pending to received, and understand when it can be cancelled.

Applying advances to invoices and settling balances

Learn which advances are eligible, how Collabcy applies them to invoices, and how advances change payable and outstanding amounts.

Understanding invoice statuses and reminders

Learn what Draft, Sent, Partially Paid, Paid, Overdue, and Cancelled mean in Collabcy.