Receipts - New Receipt

This page will detail how to go about making New Receipts and how to apply Adjustment Notes.

For a video on New Receipts, please go to How to enter a General Receipt

New Receipts

New Receipts can be entered by going the the Receipts Register Page or by selecting New Receipt on the Invoice Register, Receipts Register or Accounting and Finance home page.
Under invoicing select new receipt. If this button is not visible ask an administrator to adjust your permissions.

2. Fill in the fields as required. Required fields are indicated by the star*

Account where the monies are to be deposited – the default bank account can be set by going to settings > Appliance Settings > Finance > receipts > default receipt account
Received for must be a client in WOL
Received from is who the money is from (this name is usually the same as the client above, but does not have to be)
Funds – select your form of funds
> If cheque is selected make sure the account is set to undeposited funds
Receipt # will auto fill, but can be manually edited by selecting the pen symbol
Date the monies are received

3. Once the Received for field is selected, a list of all the outstanding invoices will appear in the bottom section.
If you have a large amount of invoice options, you can search through them by pressing CTRL + F and typing keywords or numbers.
Double clicking on an invoice line will make the full amount of the receipt appear in the applied column.

Note: You cannot tick the box on the left hand side on an invoice line, unless the receipted amount is equal to or greater than the invoice line. I.e. if a discounted amount is paid double click on the line or manually enter in the amount applied by typing in the far right box.

4. Make sure the unapplied amount is $0.00 before continuing.

5. Save your Receipt by selecting one of the Create options at the bottom of the screen.

Once you have saved the receipt a confirmation message will appear and you need to click on Confirm Receipt if it hasn’t been confirmed yet.

Note: the receipt must be confirmed before it will appear in your external accounting system.

6. Select the receipt number from the above creation message, ensure you check all details thoroughly before confirming. Once you are ready to confirm, you can do so by pressing the orange confirm receipt button.

7. In the receipts register, multiple receipts can be confirmed simultaneously by ticking the appropriate invoice lines and selecting bulk actions > confirm receipts.

If your receipt was a cheque or cash, you will need to prepare a General Deposit Slip to take down to the bank.
Click here to find instructions on How to prepare a General Deposit Slip.

Adjustment Notes

Please see a video on adjustment notes here

Creating an Adjustment Note

When giving invoices, you may sometimes give discounts for early payments or need to write off an amount on the invoice that will not be paid. The way to do this is through Adjustments.

Adjustments 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 to the correct fee earner
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
Set the date to today's date
Write a summary line indicating that this invoice is a discount
Fill out the date line as the date of the original invoice
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 post across to your 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 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.
Change the date to today's date
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.