Reconciliation and Invoice Management (RIM)
RIM is an optional "add on" feature that supports the management of invoices and bank reconciliations with auto matching.
Types of invoices
Feezily supports the generation and tracking of a variety of invoice types.
The types of invoices RIM supports are:
- Provider invoices generated automatically from the processing of each provider statement
- RCTIs (Recipient Created Tax Invoice) generated for CARs/advisers which include fees earnt during a given period plus any AFSL fees charged (automatically calculated using Feezily's powerful, inbuilt fee calculator)
- Client invoices raised for advice fees to be paid directly by the client
AFSL bank account structures
Feezily works with your existing financial structures and so supports common AFSL internal bank account structure scenarios.
An AFSL can be configured to support either of the following bank account structures
- a single AFSL bank account that receives all bank receipts for any payments to the AFSL
- an AFSL bank account to receive product provider payments PLUS a separate ASFL bank account for each CAR to receive each CAR's direct revenue client payments.
Invoice Generation
Feezily supports the generation of invoices raised for Fee for Advice services to be paid directly by the client receiving the advice. The other way advice fees are paid is indirectly via product providers.
The invoices are generated using a template that specifies the layout and styling. Feezily supports a number of templates and we can customize these as required.
The logo which will be used when generating a given CAR's invoices can be configured.
Please note: Feezily support staff can configure CAR logos on your behalf. Simply email us the logo and we can do this configuration for you if you do not feel comfortable performing the following steps yourself.
The name of the logo file does not matter but there must be only one logo image in any 'logo' folder.
The folder to upload a CAR's logo image to in the Media manager is of the form:
AFSL/IDofAFSL/CAR/IDofCAR/logo
Where:
In the Media manager, create the folders as specified above, if they do not already exist, by using the '+' button in the folder section on the left to create new folders.
The AFSL logo which will be used when generating its CAR invoices can be configured.
Please note: Feezily support staff can configure AFSL logos on your behalf. Simply email us the logo and we can do this configuration for you if you do not feel comfortable performing the following steps yourself.
The name of the logo file does not matter but there must be only one logo image in any 'logo' folder.
The folder to upload an AFSL's logo image to in the Media manager is of the form:
AFSL/IDofAFSL/logo
Where:
*Finding the ID of a AFSL or CAR
The ID of an AFSL or CAR is its name with all spaces and punctuation characters removed and all letters converted to lower case.
For example:
The invoices are generated using a template that specifies the layout and styling. Feezily supports a number of templates and we can customize these as required.
CAR Logo
Most invoice templates include a section that contains the CAR's logo.The logo which will be used when generating a given CAR's invoices can be configured.
Please note: Feezily support staff can configure CAR logos on your behalf. Simply email us the logo and we can do this configuration for you if you do not feel comfortable performing the following steps yourself.
How to configure a CAR logo
The logo needs to be uploaded to the appropriate folder in the Administration > Media panel.The name of the logo file does not matter but there must be only one logo image in any 'logo' folder.
The folder to upload a CAR's logo image to in the Media manager is of the form:
AFSL/IDofAFSL/CAR/IDofCAR/logo
Where:
IDofAFSL = the ID* of the AFSL
IDofCAR = the ID* of the CAR
IDofCAR = the ID* of the CAR
In the Media manager, create the folders as specified above, if they do not already exist, by using the '+' button in the folder section on the left to create new folders.
AFSL Logo
Most invoice templates include a section that contains the AFSL's logo.The AFSL logo which will be used when generating its CAR invoices can be configured.
Please note: Feezily support staff can configure AFSL logos on your behalf. Simply email us the logo and we can do this configuration for you if you do not feel comfortable performing the following steps yourself.
How to configure a AFSL logo
The logo needs to be uploaded to the appropriate folder in the Administration > Media panel.The name of the logo file does not matter but there must be only one logo image in any 'logo' folder.
The folder to upload an AFSL's logo image to in the Media manager is of the form:
AFSL/IDofAFSL/logo
Where:
IDofAFSL = the ID* of the AFSL
In the Media manager, create the folders as specified above, if they do not already exist, by using the '+' button in the folder section on the left to create new folders.*Finding the ID of a AFSL or CAR
The ID of an AFSL or CAR is its name with all spaces and punctuation characters removed and all letters converted to lower case.
For example:
The ID for a CAR with the name O'Reilly Financial would be oreillyfinancial
Removing/Unposting statements
You can effectively delete/unpost a provider statement/associated provider invoice by moving a statement to a non period based batch:
- If you move a statement from a period based batch (e.g. Week 'n') to a non period based batch (e.g. 'Deleted statements') then it will unpost any invoice associated with it.
- If you move between two period based batches then it will unpost from the source period and then repost in the target period.
If you have already reconciled the provider statement by allocating a bank receipt to it then you must first delete the allocation transaction via:
- Accounts > Suspense (Receipts)
- Click the Transactions icon for the 'Suspense - receipts' account.
- Find the appropriate transaction starting with "Allocation ..." and click the delete icon to delete it.