About Wise Finance
Financial settings are controlled within the Wise configuration manager at OCLC Wise > Finance.
Monthly account maintenance
During the process, the system analyzes the subscription type and expiration date, and the customer's date of birth to determine whether to update, cancel or change the subscription type. For libraries with paid subscription types, this process can trigger a notice to inform a customer that their paid subscription will be expiring and/or generate an invoice.
This process is handled in the Wise configuration manager at OCLC Wise > Finance > Invoice and Debit > Monthly customer account maintenance.
Booking codes
Booking codes define the structure of fines and fees within Wise. Within the booking codes area of the Wise configuration manager, your library codes for types of financial transactions, payment types, and associated bank accounts.
Registration tables
Registration tables define what financial transactions in Wise are associated with. Whenever there is a financial transaction within the Wise staff client, it is tied to a configuration within a Registration table. Examples include Subscription fees, store sales, fines, etc.
Registration tables are found in the Wise configuration manager at OCLC Wise > Finance > Booking codes > Registration tables.
Journals
Journals define how financial transactions are handled in Wise. Journal codes are used to define the various payment types in Wise. Some examples include cash, card, check, etc. When a transaction is closed in Wise, it is tied to a journal code.
Journals are defined in the Wise configuration manager at OCLC Wise > Finance > Booking codes > Journals.
Ledger links
Ledger links connect financial budget codes to the financial transactions in Wise. For example, if a customer purchases a set of headphones from the library, the money from that sale will be applied to an account using a code established in Ledger links. Specific accounts can be configured for various types of financial transactions.
Ledger links are defined in the Wise configuration manager at OCLC Wise > Finance > Booking codes > Ledger links.