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Adjustment Notes are negative invoices and are entered through the New Invoice > Blank Invoice option.
The process for correctly entering Adjustments is below.
Open the original invoice in WOL
Select the drop down on the green print button and choose Summ by FE. You will need this report to correctly allocate the adjustment note to the correct fee earner/s
Open a new tab in Wise Owl and open a blank invoice by going to the Invoice Register > New Invoice > Blank Invoice
Fill out the matter and client as per the original invoice
Let the Invoice number automatically number itself
Set the date to today's date. If you backdate the transaction, you may adjust prior periods that have already been finalised. Please only do this if you have spoke to your bookkeeper or accountant.
Write a summary line indicating that this invoice is a discount
Set the item to the relevant fee earner from the Summ be FE report
Set the Quantity as 1
The Rate you will use needs to be calculated from the Summ by FE report. You need to work out what percentage of the invoice that particular fee earner earned and apply it to the amount of discount.
E.g. Fee Earner 1 earned $20 of a $100 invoice. This means that they earnt 20% of the invoice and will get 20% of the adjustment.
Once you have found the correct amount, enter it in to the Rate column as a negative.
Note: this amount must be the GST EXCL amount
Repeat for further fee earners and lines as required
Once all lines are entered, check the Total Inclusive matches the total adjustment amount.
Select Create invoice.
Go back in to the invoice by selecting the highlighted Invoice number, check that all the details are correct and select Confirm. This will finalise the transaction.
This will then post across to the external accounting system.
To print the adjustment note, open the invoice (after it has been confirmed) and select the drop down next the Green Print Tax Invoice button.
Choose the Adjustment Note option.
The adjustment note will print saying ADJUSTMENT NOTE on it. It will not say Tax Invoice on it.
Applying an Adjustment Note
Once you have created an Adjustment Note, you will need to apply it to the correct invoice/s to ensure that it is correctly allocated.
When you confirm an adjustment note, it will give you the option to Apply the Adjustment note in a link. If you choose this option, you will be taken to a page that will have details prefilled for you.
Otherwise, to apply adjustment notes, you can go to either the Invoice or Receipts register > Select the down arrow next to New receipt and select Apply Adjustment Note. If you choose this option you will have to fill out the details to find the Adjustment note and invoice.
Search for the Client in the Received For field.
Once a client is selected, this will open up all invoices and adjustment notes available for that client.
You can apply an adjustment note to any invoices that are on the same matter - or keep it on one invoiceChange the date to the date of the adjustment note you created under the 'Creating an Adjustment Note' section above
Optional: Enter in a Receipt Memo, Received from and Their reference number
Select the adjustment note you wish to apply
Enter in the amount of the adjustment to the relevant invoice.
Note: You can split an adjustment note over multiple invoices if required.Ensure the Amount Unapplied is $0.00 if you are fulling applying that adjustment note.
Once you have checked all the details are correct, select Apply adjustment note
From here you can print the adjustment note if required.
At this stage, your adjustment note will only be a draft application. You need to go back into the Adjustment note application and select Confirm before it is completed.
Note: Once confirmed, the adjustment note will be posted to your external accounting system within minutes.
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If a situation occurs that you need to Delete an Adjustment Note or discount, this needs to be done in reverse to the order it was entered in.
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