How to do End of Month checks

Owned by Karen McDonald
Last updated: Jun 08, 2023 by Gemma Heidemann
4 min read

This page will assist you to perform End of Month (EOM) checks on your Wise Owl file in order to keep it as clean as possible.

We perform end of month checks to ensure that no old or draft entries are forgotten about and to keep the Wise Owl database clean.

It is important that you check the items below and then action them so that your data stays current.

Checks to do and how to complete them:

Draft Invoices

Draft Receipts

Draft Disbursements

Archive Matters

External Accounting Errors

 

Checking Draft Invoices

Check for any draft invoices that are more than 14 days old

 

  1. From within the OWL, go to the $ sign (Accounting and Finance)

  2. Go to Invoice Register

  3. Set the dates to 01/01/2000 to today

  4. Set the status to ‘Draft’ only

  5. Search

For each draft invoice, check to see if there is an Error or if it just has not been confirmed.

If it hasn't been confirmed, determine if it is needing to be finalised or deleted and action same.

For any errors, see the section on External Accounting Errors

 

Checking Draft Receipts

Check for any draft receipts that are more than a week old.

 

  1. From within the OWL, go to the $ sign (Accounting and Finance)

  2. Go to the Receipt Register

  3. Set the dates to 01/01/2000 to today

  4. Set the status to ‘Draft’ only

  5. Search

For each draft receipt, check to see if there is an Error or if it just has not been confirmed.

If it hasn't been confirmed, determine if it is needing to be finalised or deleted and action same.

For any errors, see the section on External Accounting Errors

Checking Draft Disbursements

Check for any draft disbursements more than a week old

 

  1. From within the OWL, go to the $ sign (Accounting and Finance)

  2. Go to the disbursement register

  3. Set the dates to 01/01/2000 to today

  4. Set the status to ‘Draft’ only

  5. Search


For each draft disbursement, check to see if there is an Error or if it just has not been confirmed.

If it hasn't been confirmed, determine if it is needing to be finalised or deleted and action same.
For any errors, see the section on External Accounting Errors

 

Checking for Matters to Archive

  1. From within the OWL, go to the Matters page (yellow folder icon)

  2. Click on the advanced search bar and set the status to closed only.

  3. Search

  4. If these closed matters have been finalised and all transactions finalised, you can attempt to archive the matter.

    If the closed matter has outstanding invoices, unbilled fees or an existing trust balance, it won't allow you to archive it.

Checking External Accounting Errors

Please note that incorrect action taken to resolve External Accounting errors may result in your Wise Owl database and the External Accounting system having variances between data.

We recommend that you only resolve External Accounting errors if you are sure you have resolved the issue. Please pay close attention to any warnings or instructional text when resolving errors.

  1. From within OWL, go to the $ sign (Accounting and Finance)

  2. Click on ‘Previous Activity’ under the external accounting heading 

     

  3. This page will list any errors that are outstanding and needing action. 

    For individual error help, please review the following links. If none of the following links assists you in your errors, please contact the Wise Owl Help Desk.

    External Accounting System FAQ's
    Accounting System Name and External Integration
    Found existing record in External Accounting System
    Transaction ID cannot be Linked

If you see the following message, that means that Wise Owl and the External Accounting System are currently synchornising their data and this may change any errors that are on this page once complete.

You can see records currently waiting to be sent across to your External Accounting System by clicking on 'Pending Records'