Finance Settings control how financial transactions, documents and communications work across Wisenet Finance.

Before you begin using features such as Invoices, Quotes, Payments and Fee Schedules, configure your Finance Settings to reflect how your organisation manages fees, billing and financial communications.

Finance Settings include:

• General Settings for organisation-wide finance defaults and financial controls
• Invoice and Quote Settings for document defaults
• Pricing Versions, Fee Types and Finance Items for configuring what you charge and how those charges are calculated
• Discount Rules and Funding Methods for managing adjustments and funding
• Templates for financial communications
• Reporting settings for financial reporting

1

To access and configure your Finance Settings:

1. Navigate to LRM > Finance
2. On the left navigation bar, click on Settings

2

General Settings

The General Settings tab is relevant to both quotes and invoices. Here, you can input key company details that will appear on your financial documents.

In this section, you can:

• Upload your logo
• Select Default Currency
• Select Default Pricing Versions
• Set the Accounting Lockdown Date
• Set the Reply-to-Email Address
• Set the From Name

3

Invoice Settings

In the Invoice Settings tab, you can configure the default values for how your invoices will be issued and managed:

1. Enter the Invoice Due In days to determine the default payment due date
2. Enter the invoice Terms.
   • These terms are applied to invoices at the time of issue.
   • Updating Invoice Terms will not affect invoices that have already been issued or accepted.
   • Updating Invoice Terms will affect invoices still in draft status.

4

Quote Settings

Configure the default values for your quotes:

1. Set the number of “Valid Days”.
   • The Quote Expiry Date will be automatically calculated based on this value, though it can be manually overridden if needed.
2. Enter the Quote Terms.
   • These terms will be applied to quotes upon issue.
   • Updating the default terms will not impact already issued or accepted quotes.
   • However, changes will apply to draft quotes.
3. Select whether a Purchase Order Number is required.
   • If set to YES, the customer must enter a purchase order number before they can accept the quote.
4. Select whether Supporting Documentation is required.
   • If set to YES, the customer must upload at least one document to accept the quote.

5

Pricing Versions

Pricing Versions allow you to maintain different sets of prices for your Finance Items.

They are useful when the amount you charge varies based on factors such as the year, intake or pricing arrangement.

A Default Pricing Version can be selected in General Settings and used when Wisenet needs to determine the default price for a Finance Item.

Learn More: How to Set Up Pricing Versions

6

Fee Types

Fee Types categorise the different types of fees your organisation charges and define the applicable tax rates.

Fee Types are used when configuring Finance Items so Wisenet can apply the appropriate fee and tax information to financial transactions.

Learn More: How to Set Up Fee Types

7

Finance Items

Finance Items define the individual products, services or charges that can be used in your financial transactions.

They provide the underlying information used for line items, including details such as the item name, code, description, Fee Type and pricing.

For example, you may configure Finance Items for tuition fees, enrolment fees, materials or other charges relevant to your organisation.

Learn More: How To Set Up Finance Items

8

Discount Rules

Discount Rules allow you to configure discounts that can be applied to eligible financial activity.

Use Discount Rules when your organisation has established discount arrangements that you want to manage consistently within Wisenet Finance.

Learn More: How to Add and Edit Discount Rules

9

Finance Funding Methods

Finance Funding Methods allow you to record how a Learner’s fees are funded when the Learner is not responsible for paying the full cost themselves.

For example, a Learner’s training may be:

• Fully or partially funded by a State Government funding program
• Paid or subsidised by an employer or other external organisation
• Split between an external funding source and a Learner contribution

Setting up Finance Funding Methods allows you to identify the different sources of funding your organisation works with and record the relevant funding against the Learner’s financial activity.

This helps distinguish the amount funded by another party from the amount the Learner is responsible for paying.

Learn More: How to Add and Edit Funding Methods

10

Templates

Templates control the emails used when communicating with debtors about financial transactions and documents.

You can customise the Subject and Body of each template and use available placeholders to automatically insert relevant information into the message.

To edit a template:

1. Under Action, click Edit
2. Edit the Subject and/or Body
   • Insert placeholders if needed
3. Click Update

11

Reporting

Reporting settings support how financial transaction data is prepared for downstream accounting and reporting processes.

Learn more: Journal Reporting

Next Step

How to Create Line Items Dropdown Lists