Treasurer: Transfer guide
Once an expense has been approved by the , it is up to the treasurer to push the button to transfer money to the bank account provided by the submitter.
Treasurers are admins of the , while coin cats are only admins of the Borderland collective. It is the Gränslandet organization that ultimately holds and controls the money for the and .
Refilling the Wise balance
Expenses are paid out through Wise. We need to send money manually from our bank account to our account on Wise. This is easy, but we should not send too large sums at once as this might trigger flags with Wise. We don’t know exactly what the limit is, so we will need to experiment. Just don’t try transferring it all at once.
Processing payments through Open Collective
Expenses are most easily reviewed and paid through the .
To filter only expenses approved by the coin cats, choose “approved” in the status filter.
When you click “Go to Pay” on an expense, a modal will appear asking to “Schedule to Pay with Wise”. This adds the payment to batch. As you go through and schedule more expenses, they are added to the same batch. Do not batch too many expenses together, as this may cause an error on Wise. About 10 expenses should be safe to bundle. Make sure that there is enough money on the Wise account to cover the expenses in the batch. You can see the Wise balance directly on the admin dashboard.
On the host dashboard, you will see a green message telling you how many expenses are scheduled for payment in the current batch. You can list them or pay them.
Once you choose to pay the batch, you will be asked for your password to Wise. If you are an admin on the Gränslandet Wise account, it should work to log in with your own account. You will also be asked to go through a 2 factor authentication process, either through the Wise app on your phone or through getting an SMS.
Once the payment is verified, you should get this message, and the expenses should be listed as “Processing”.
On Wise, you can see details about the batch. You can even see some very exact timings on when the money will reach the accounts of the recipients. If a transaction would fail, this is also where you might be able to find out why.
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