Income Reconciliation Firm Settings
Before you’re ready for Income Reconciliation, you must configure your firm settings.
From the left hand side menu of any page in Plannr, select Settings
From here, select Income Reconciliation.
When presented with these options, choose Firm Settings.
The following options are available:
* Default Tax (VAT) rate - please enter your firm's default Tax (VAT) rate.
* Invoice number / charge identifier template
The invoice number/charge identifier can have a number of variables that can be added to help make each invoice number more identifiable and unique. The charge identifier must contain the charge:number variable as this is auto incremented for each charge that is created, and will make sure the charge identifier will be unique. You may pad the charge identifier with any text that matches your internal invoice number scheme.
There are currently six variables that can be added to the charge identifier/invoice number:
${ charge:number }
${ charge:last_name }
${ charge:name }
${ charge:revenue_type }
${ charge:revenue_type_short }
${ charge:origin }
Given an Initial Fee charge for a client named Joe Bloggs, here are some examples of different invoice number/charge identifier templates and their output.
ABC-${ charge:number } = ABC-000001
ABC-${ charge:number }-${ charge:name } = ABC-000001-Joe Bloggs
ABC-${ charge:number }-${ charge:last_name } = ABC-000001-Bloggs
ABC-${ charge:number }-${ charge:revenue_type } = ABC-000001-Initial Fee
ABC-${ charge:number }-${ charge:revenue_type_short } = ABC-000001-IF
ABC-${ charge:number }-${ charge:origin } = ABC-000001-PROV
The charge:number variable is always padded to six digits. ABC- here is any free text you want and can be personalised to how you want your internal invoice number structure to be e.g. your company name. The free text can be placed anywhere in the template, before, in between variables, or at the end.
Here are the revenue types and their respective short form:
And the different types of origins and how they are displayed:
It is recommended to use number , revenue_type and origin for now to generated uniformed length invoice numbers, as name, last_name, and revenue_type may generate different non uniformed invoice numbers/charge identifiers, due to varying lengths of names and last names of clients.
In future we'll be working on adding modifiers to variables, which will allow you to modify each variable such as making it upper case, trimming to n characters, removing vowels, and applying these modifiers to any variables will help make uniformed charge identifiers/invoice numbers. There is currently no time estimate for the modifier feature.
* What day of the month should your income statements end? - please enter your chosen date, we recommend 31.
* Lock statements after how many days?- please choose from the available list e.g. Never lock automatically, immediately (e.g. as soon as statement period ends) or after XX days.
* Default adviser split - select the default adviser split here from all pre-saved splits. The adviser splits must be already defined, which can be done here.
* RMAR Default Advice Type - Choose either Independent or Restricted.
Save once ready.
These settings can be accessed by Admin and Owners but only Owners can save them.
From the left hand side menu of any page in Plannr, select Settings
From here, select Income Reconciliation.
When presented with these options, choose Firm Settings.
The following options are available:
* Default Tax (VAT) rate - please enter your firm's default Tax (VAT) rate.
* Invoice number / charge identifier template
The invoice number/charge identifier can have a number of variables that can be added to help make each invoice number more identifiable and unique. The charge identifier must contain the charge:number variable as this is auto incremented for each charge that is created, and will make sure the charge identifier will be unique. You may pad the charge identifier with any text that matches your internal invoice number scheme.
There are currently six variables that can be added to the charge identifier/invoice number:
${ charge:number }
${ charge:last_name }
${ charge:name }
${ charge:revenue_type }
${ charge:revenue_type_short }
${ charge:origin }
Given an Initial Fee charge for a client named Joe Bloggs, here are some examples of different invoice number/charge identifier templates and their output.
ABC-${ charge:number } = ABC-000001
ABC-${ charge:number }-${ charge:name } = ABC-000001-Joe Bloggs
ABC-${ charge:number }-${ charge:last_name } = ABC-000001-Bloggs
ABC-${ charge:number }-${ charge:revenue_type } = ABC-000001-Initial Fee
ABC-${ charge:number }-${ charge:revenue_type_short } = ABC-000001-IF
ABC-${ charge:number }-${ charge:origin } = ABC-000001-PROV
The charge:number variable is always padded to six digits. ABC- here is any free text you want and can be personalised to how you want your internal invoice number structure to be e.g. your company name. The free text can be placed anywhere in the template, before, in between variables, or at the end.
Here are the revenue types and their respective short form:
| Revenue Type | Revenue Type (Short) |
|---|---|
| Adhoc | AD |
| Administration | ADM |
| Adjustment | ADJ |
| Bond Renewal | BR |
| Clawback | C |
| Dss Rebate | DSSR |
| Fund | FND |
| Indemnity | I |
| Initial Fee | IF |
| Level | L |
| Non Indemnity | NI |
| One Off | OO |
| Ongoing Fee | OF |
| Other Fee | OTHR |
| Procuration Fee | PF |
| Protected Rights | PR |
| Renewal | R |
| Switch | S |
| Unknown | U |
And the different types of origins and how they are displayed:
| Charge Origin | Charge Origin (Short) |
|---|---|
| Client | CLNT |
| Provider | PROV |
| Unknown | UNKN |
It is recommended to use number , revenue_type and origin for now to generated uniformed length invoice numbers, as name, last_name, and revenue_type may generate different non uniformed invoice numbers/charge identifiers, due to varying lengths of names and last names of clients.
In future we'll be working on adding modifiers to variables, which will allow you to modify each variable such as making it upper case, trimming to n characters, removing vowels, and applying these modifiers to any variables will help make uniformed charge identifiers/invoice numbers. There is currently no time estimate for the modifier feature.
* What day of the month should your income statements end? - please enter your chosen date, we recommend 31.
* Lock statements after how many days?- please choose from the available list e.g. Never lock automatically, immediately (e.g. as soon as statement period ends) or after XX days.
* Default adviser split - select the default adviser split here from all pre-saved splits. The adviser splits must be already defined, which can be done here.
* RMAR Default Advice Type - Choose either Independent or Restricted.
Save once ready.
These settings can be accessed by Admin and Owners but only Owners can save them.
Updated on: 20/12/2024
Thank you!