Finance Items in Wisenet allow organisations to connect fee types with predefined tax rates, facilitating the accurate calculation of unit fees in financial transactions. By setting up Finance Items, you create a structured foundation for line items in quotes, invoices, and other finance-related records, ensuring consistency and accuracy in financial reporting and tax calculations.
Required LRM Access: Owner or Admin
Fee Type Setup: Fee structures and tax rates must be configured beforehand to utilise these items in quotes, invoices and credit notes.
1
Navigate to the Finance Items Page
- Go to LRM > Finance > Settings > Finance Items.
2
Add a Finance Item
- Click Add Finance Item to open the setup drawer.
- Enter the following details:
- Name and Code: Does not appear on invoices
- Line Item Description: This will appear on invoices.
- Fee Type: Select the relevant fee type.
- Unit Amount (Tax Excl): Enter the amount before tax.
- The Unit Amount (Tax Incl) is auto-calculated based on the tax rate tied to the selected Fee Type.
- Set the Active Status: Toggle to Active if you want this item available in the Quote/Invoice Items dropdown.
- Click Save to add the Finance Item.
3
Edit a Finance Item
- Click on the Name or Code of an existing Finance Item to open the edit drawer.
- Modify any of the following fields:
- Name
- Code
- Line Item Description
- Fee Type
- Unit Amount (Tax Excl)
- Active Status toggle
- Click Save to apply changes.
Note: Editing a Finance Item will not retroactively update draft or issued quotes or invoices. To apply changes to a draft quote or invoice, delete the existing item from the document and re-add it with the updated information.