Company Expenses

Company Vendor Payments

Invoice Submissions & Payments via Vendor Payment System

• Business-related payments should generally be processed through the partner Accounting Team (also see Corporate Credit Card for credit card Q&A). All invoices requiring payment should be submitted to the company’s accounting email alias.

• If the payment is a recurring expense for business activities (e.g. recurring vendor invoices), or above 1000 USD, have the expense processed with the partner accounting team.

• The company’s accounting team uses an e-payment system for vendor payments.

• If the payment is an ad hoc expense (e.g. paying for a promotional article) or for a specific individual’s business-related activity (e.g. work computer) and is below 1000 USD, pay through the corporate credit card.

• First-time vendors will need to onboard in the e-payment system, input profile and banking details, and upload a W-9, W-8BEN, or W-8BEN-E. New vendors should complete their e-payment system registration as soon as possible to avoid payment delays.

• Vendor payments must be proceed through ACH / Wire only. If vendors refuse to onboard onto the bill pay system, management team to ping the vendor. Check payments need to be authorized by company management.

• How does e-payment work?

• To process e-payment, the accounting team will send an e-invite to the vendor’s email. The vendor accepts the invite and provides their bank information within the e-payment system.

• e-Payment will be scheduled according payment terms as well as the accounting team’s processing cycle.

• e-payment will typically arrive in the recipient's account within 2-4 business days from the scheduled payment date. Exception: For some non-US vendors who may have difficulties setting up the e-payment system, a wire payment will be processed.

• For US-based vendors, vendors are required to provide a completed W-9 Form prior to or at the time when they submit their 1st invoice and upload a copy in e-payment system under the Document section. This form can be downloaded from the IRS website. If the vendor is unable to upload their W-9, please email the form to our accounting email alias.

• For Non-US vendors, vendors are required to provide a completed W-8BEN-E Form prior to or at the time they submit their 1st invoice and upload a copy of in e-payment system under the Document section. This form can be downloaded from the IRS website. Here are the instructions for Form W-8BEN-E Form. If the vendor is unable to upload their W-8BEN-E, please email the form to your company’s accounting email alias.

• Important: Accounting cannot process a payment without these Tax Forms

• Please DO NOT submit invoices and/or payment instructions via other channels.

• We recommend vendors to submit their invoices within 7 days after the services are rendered or the goods are delivered. Timely submission of invoices will enable Accounting to record the expenses in the right financial period.

Expense Allocation

OCV manages expenses for many entities. These include OCV (under the Management Company), OCV funds, and OCV companies (typically during the formation phase only).As a default practice, we ask our vendors to bill the appropriate entity for which services/goods were rendered.

Company Pre-Launch Expenses

OCV has a designated payment method for standard pre-launch systems. These systems and accounts are expected to transfer to the company's own business credit card upon activation. As a general practice, OCV would minimize expenses incurred on behalf on the company during the formation phase.For each company, OCV would not seek reimbursements for total expenses below $500. Once total expenses exceed $500 (potentially driven by domain purchases), OCV would invoice the company for all direct expenses incurred.When founding team members need to purchase equipment or services before their company's financial systems are set up, the preferred method is to pay for these personally and later submit expense reimbursements to their company's accounting team. (See also Corporate Credit Card).

Reimbursements Across Entities

Occasionally, OCV may need to cover payments on behalf of another entity. These payments are recorded as receivables on OCV’s balance sheet. Once the entity can process invoices, OCV will request reimbursement at actual cost by submitting receipts to the entity's accounting department.Table below highlights typical expense categories by entity type.

OCV (under Management Company)	OCV Funds	OCV Companies
Operating costs (i.e. payroll for OCV team, systems, etc.)	Deal-specific expenses (primarily legal, travel, etc.)	Company operating costs (payroll, fixed assets, systems subscriptions, etc.)
Content production for OCV blog posts including new company launch announcements	Fund admin fees	Company-specific legal fees (including entity formation)
OCV-specific legal & accounting needs and non-company specific work that benefit all OCV companies	Tax services for funds (GP and LP entities)	Outsourced HR & recruiting services
Catalyst program sponsorship payments	ㅤ	Marketing (including contract content writers, etc.)
ㅤ	ㅤ	Outsourced accounting & tax services
ㅤ	ㅤ	Corporate taxes and statutory filings