Financial organizations configuration
Financial organizations are defined in the Wise configuration manager at OCLC Wise > Management organizations > Financial organization. The Financial organization is established to dictate how branches interact financially. Including branches in the same financial organization allows customers to pay any fees and fines or use credits on their accounts at any branch included in the same financial organization.
Note: Consultation with the financial office of your library is recommended for edits to this section.
Each library system is connected with one financial organization and all branches of the system are included in that organization.
Create a new financial organization
- In the Wise configuration manager, go to Management organizations > Financial organizations.
- Click New.
- Provide information for the financial organization fields.
- Click OK to save.
Copy, change, or remove a financial organization
All of the financial organizations added to Financial organizations can be edited. To copy, change or remove a financial organization:
- Navigate to the financial organization you want to edit.
- Click Detail next to the Description. The financial organization screen appears.
- At the bottom of the screen, click the radio button the Copy, Change or Remove.
- Click OK.
- If you selected Copy, a confirmation message appears. Click OK and a copy will be added to the list. The copied financial organization appears at the end of the list. You will need to click Detail next to the new value and then Change it if needed.
- If you selected Change, you will be able to make changes to the editable fields. Once your changes are complete, click OK again to save.
- If you selected Remove, a confirmation appears. Click OK to remove. The financial organization is deleted.
Financial organization fields
| Field name | Description |
|---|---|
| Financial organization |
Every financial organization must receive a unique identification number. |
| Description | A description can be included for each financial organization. |
| Make journal entry for day number |
This is a required field when using the monthly journal method. The value must be determined in consultation with the library system's financial department. This book day number is used to allocate all financial bookings to a journal period (yymm). The journal period is determined based on the booking date of the proceeds. This setting determines which day of a month the previous journal period is closed. |
| Journal closing date |
Use this field only with the flexible journal entry process. The date entered here indicates when booking in the ledger will be blocked. By manually entering a date, financial items can only be booked with a booking date after this date. The date field can be changed. After every nightly processing regarding journal additions, the section journal waives is placed in the financial items and will no longer be located in the bookings. Note: It is not necessary to enter the date with the monthly journal method. |
| Journal entry process |
You can only select F - Flexible if there is only one institution in your financial organization. If there are multiple institutions, a monthly journal method is required for clearing the books and other financial actions. Note: OCLC recommends that you do not select F- Flexible method. |
| Booking process |
Select a booking process from the drop-down menu:
|
| Items need to be cleared | If the financial organization has only one institution, leave this section blank. If there are multiple institutions, select this option so that Wise will align the institutions when clearing the books. |