Purchase Items refers to disbursement and recovery itemsThe Purchase Item page is a list of all the items controlling each line on your disbursements and recoveries. In other words this list relates directly to pay now, pay later and expense recoveries.
Adding a New Purchase Item
From the accounting and finance module, select items from the lists section, followed by disbursements and recovery items.
From the purchase items page, select 'New Purchase Item'.
Fill in the respective fields.
Code: The item code is a unique field which identifies a purchase item. It should be an abbreviation of what the disbursement or recovery item is. For example 'MED' would be a suitable code for Medical Reports.
Name: The name is a description of what the purchase item is.
Description: An optional field which can be used to add additional details.
Is Active: Determines if an item is active or inactive. For creation of new matters ensure that this box is ticked.
Sort Order: The order in which the item codes will appear in the pick lists. By default all the items have a sort order of one, therefore sorting the items by alphabetical order.
Available For: Determines which lists the items will appear in.
Default Tax Code: The tax code which will primarily be used for this type of purchase item. Wise Owl Legal will auto fill the tax column when entering a pay now, pay later or expense recovery. However this code can be manually overridden, for individual entries.
Default Amount: This is a useful field to enter if a recovery has a common amount, for ex
Default Quantity: For most items this will be 1.
Default Notes: This will auto fill into the description field on the pay now, pay later or expense recovery screens. Enter notes in brackets to indicate to the user that they must fill in this information specific to the situation. For example, 'Title Search for [enter address]'.
Invoice Item: This is an item that is created under the invoice item list and will assist in allocating the outlay with the correct GST code. It also allows linking between outlays and the external accounting system.
Account Code for Auto Created Invoice Item:
Account Code (external accounting link): This must exactly match with an account set up in your accounting software (most likely ReckonAccounts Desktop), to allow for successful integration from Wise Owl Legal to your accounting software.
External Code (external accounting link): This field is for the External Item code used in the external accounting system.
Below is an example of a new purchase item.
This page can be accessed by going to the Accounting and Finance Module and then pressing the down arrow on lists and choosing Disbursement/Recovery Items.
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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 Purchase Items are split into 3 categories.
Pay Now - When paying a disbursement by cash/card/cheque now
Pay Later - Adds the disbursement into the Accounts Payable for later payment
Expense Recovery (Paid Already) - A purchase that has been paid already and cannot be related to an exact cheque or credit card payment
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 Purchase Items from the blue button on the top and bottom of the page. Help for this can be found here
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Note that the terms Disbursement and Outlay are interchangeable.