How and when are invoices generated for contractors?

Invoices are created individually for each contractor and cannot be aggregated.

You can access and download a comprehensive report of all invoices in the Reports tab under the Company section.

Fixed Contractors

Invoice Generation: Invoices for fixed contractors are automatically generated on the 10th of each month (The default is the 10th, but you might have different values. Check in Company > Settings > Finance > Contractor Invoice Generation Day), covering that month. Ensure the first payment amount is correctly entered on the new hire form.
Approval Process:
- Invoices are auto-approved 5 days after generation unless manually approved earlier.
- If you use Direct Debit, funds will be withdrawn as soon as the invoice is approved or auto-approved. Ensure your account has sufficient funds to prevent failed transactions, which may delay payouts to contractors. (Funds pulled via Direct Debit take ~5 days to become available to initiate payouts to your contractors.)
- For bank transfer payments, initiate the transfer promptly after approval to avoid payout delays. This is the fastest way to pay your contractors. As soon as you initiate bank transfer on your side, funds become available next day for payout initiation.
Payout Timing: Oyster initiates contractor payouts immediately upon receiving funds, regardless of the payment method. Payout delay depends on the currency/country combination.

Invoice Submission: PAYG contractors manually create and submit invoices. These appear in the Invoices section upon submission, and you’ll receive an email notification for each new invoice.
Approval Process:
- Invoices are auto-approved 15 days after submission unless manually approved earlier.
- Encourage contractors to submit invoices on a set schedule for easier batch approvals.
- Direct Debit and bank transfer processes follow the same guidelines as fixed contractors.
Payout Timing: Oyster initiates contractor payouts immediately upon receiving funds, regardless of the payment method. Payout delay depends on the currency/country combination.

Invoice Submission: Each time a contractor’s Expense is approved
Approval Process:
- Invoices are auto-approved 2 days after submission unless manually approved earlier.
- Direct Debit and bank transfer processes follow the same guidelines as fixed contractors.
Payout Timing: Oyster initiates contractor payouts immediately upon receiving funds, regardless of the payment method. Payout delay depends on the currency/country combination.

Once an invoice is approved, Oyster initiates the Direct Debit process.
Funds are available for payout initiation typically within T+6 business days (T = approval/auto-approval date).
Upon receipt of funds, contractor payouts are initiated immediately.
Payout Timing by Currency:
- Local Currency: Funds are typically available within 2 business days : T+5+2 = T+7 (e.g., PHP in the Philippines).
- Foreign Currency: Funds are generally available within 3–4 business days : T+5+[3-4] = T+[8-9] (e.g., USD in Brazil).
- Note: International bank transfers may be delayed by intermediary banks, with worst-case delays up to 7 business days. Contact Oyster for assistance with persistent delays.

This is the fastest way to pay your contractors.
After invoice approval, Oyster awaits for you to initiate the transfer.
Payouts to contractors begin immediately upon receipt of funds.
Payout Timing by Currency:
- Local Currency: Funds usually arrive within 2 business days.
- Foreign Currency: Funds typically arrive within 3–4 business days.

Note: With Direct Debit, a delay of 5 days is added, due to the time it takes to our partner to initiate payout