The lists subsection is your one stop for all your lists accounting and finance related.
Selecting Invoice Items from the drop down menu will take you to a page that shows all the items that can be entered when creating new Disbursement or Recovery Items. These items are explained in greater detail below.
The Invoice items will connect to your External Accounting System accounts. It is essential that these are entered correctly. If they are not entered in relation to your external accounts, the invoices will not transfer properly and errors could be made.
Depending on what External Accounting System is being used; there will be an account list that you can refer to for the account code.
Note: The Account Code MUST be in the accounts list in your external accounting program for this item to link properly. To find an external item code, refer to the accounting program’s item listing.
Invoice Item page is a list of all the items controlling each line on your invoices.
These items should not be changed if created by Wise Owl Legal.
If creating items for the first time, it is recommended that you follow the instructions here carefully and also review a similar item that is already in your Wise Owl System and was created by Wise Owl on setup.
The Invoice Items are split into 3 categories
- Professional Fees - Automatically created when a new User is created
- Office Expenses - This category is for all office recoveries that will be recovered on an invoice
- Outlays - This category is for all outlays/disbursements that are recovered on an invoice
You can use the parameters section to search for a particular Item if an edit is required.
There is also the option to create new Invoice Items from the blue button on the top and bottom of the page.
