Counterparties

Flowtly Editorial Team3 min

The Counterparties module in Flowtly serves as the central registry for all external business entities your organization interacts with, including suppliers, contractors, clients, and partners. It provides a structured way to maintain contact information, tax identifiers, payment terms, and relationship history for each counterparty.

Counterparty groups allow you to categorize your business partners by type, region, industry, or any other classification that supports your reporting and operational needs. Groups make it easy to apply bulk actions, filter views, and generate reports segmented by counterparty category.

CRM enrichment features automatically supplement counterparty profiles with publicly available business data, such as registration details, financial indicators, and branding assets. This reduces manual data entry and helps your team maintain up-to-date, comprehensive records without relying on external research.

Branding health monitoring tracks the completeness and consistency of counterparty branding data, such as logos and trade names, across your records. The duplicate detection and merge capability identifies counterparty records that likely refer to the same entity and provides tools to consolidate them, keeping your database clean and reliable.

Invoice line templates let a counterparty hold the wording its invoice lines are written from, so a contract sentence that repeats every billing period is saved once rather than retyped. See Invoice line templates.

A counterparty's currency is its own

Each counterparty carries a currency, and it is the currency you settle with that counterparty in — not the currency a particular document happens to be written in. The two are frequently different and both are correct: a lease can be priced in EUR and paid in PLN at the day's rate. Setting one never changes the other.

When you create a counterparty while reviewing an extracted contract, Flowtly fills this in for you:

  • if the document names a currency, that value is used — it is evidence about this specific agreement
  • otherwise it falls back to your organization's own currency, which is the right answer nearly every time and saves retyping it for every imported document

The field says which of the two happened, so a value Flowtly supplied is never mistaken for one read off the document. Change it and the note goes away. If your organization has no currency configured, the field is simply left blank for you to fill — Flowtly does not guess a currency on your behalf.

See Currencies and exchange rates for how amounts are converted between them.

Example use cases

  • Register a new supplier and populate their profile with tax ID, payment terms, and contact details.
  • Organize counterparties into groups by region or service type for targeted reporting.
  • Use CRM enrichment to automatically fill in missing business registration data for existing records.
  • Identify and merge duplicate counterparty entries that were created by different team members.
  • Review branding health scores to ensure counterparty logos and names are consistent across documents.
  • Save the contract wording a counterparty requires on its invoice lines, ready to pick when invoicing it.

Connection map

Refers toUses upPart ofDerived from
Documented hereDocumented elsewhere
invoice billed to counterparty. invoice taxed by tax-group. cost spends against budget. cost owed to counterparty. bank-transaction reconciled to invoice. contract schedules payment-schedule-line. contract agreed with counterparty. contract attached to budget. budget covers project. invoice billed from project. project linked to budget. lead becomes counterparty. deal sold to counterparty.billed totaxed byspends againstowed toreconciled toschedulesagreed withattached tocoversbilled fromlinked tobecomessold toIInvoice — A sales document issued to a client: line items, dates, tax. It is created, reviewed, previewed and then sent.InvoiceCCounterparty — The other side of a financial document — a client billed, or a supplier owed.CounterpartyTTax group — The tax treatment applied to a line, so rates are set once rather than per document.Tax groupCCost — Money the organisation owes or has spent, tracked against a budget.CostBBudget — The financial envelope an engagement is measured against — what was planned, versus what has actually been spent.BudgetBBank transaction — A movement on a connected bank account. Matching it to an invoice or a cost is what makes the books agree with the bank.Bank transactionCContract — The financial terms of an engagement: a structured set of payment schedule lines, in one direction or the other.ContractPPayment schedule line — One dated amount on a contract, in a direction — money owed to a supplier, or due from a client.Payment schedule linePProject — The core organizational unit for a business initiative, client engagement or internal work. Everything tracked — time, cost, invoicing, profitability — hangs off one.ProjectPProspect — A company you are working but that is not a customer yet. It sits at New, Contacted or Qualified, and everything done to it is logged against it.ProspectDDeal — A sale in progress: a customer, an amount, and the stage it has reached. It cannot exist without a customer, and its stage is never blank.Deal