Plan: Not Available: Intermediate, Pro Available: Elite
Users: Not Available: All users Available: FYI Admins or User Group permissions
Practice Management Source: Not Available: Xero Practice Manager, APS, Iris, MYOB AE & AO, CCH, MYOB Practice Management (formerly GreatSoft) Available: FYI
WIP Reconciliation automatically calculates and validates WIP and invoicing values across the practice in real time. It confirms that practice billing activity is always reconciled.
Users must be assigned to a User Group with Automations permissions to view the WIP Reconciliation.
This feature is currently in beta. Learn more about beta registrations.
WIP Reconciliation Overview
WIP Reconciliation, displayed in the Practice Ledger app, compares WIP movements with invoice activity, using all available time entries and invoices in FYI, with no date-range restriction.
Practices can display the WIP reconciliation data at any time to validate WIP entries against invoice totals and ensure that their data is always reconciled.
For practices with multiple Xero ledgers, the WIP Reconciliation data reconciles against all Practice Ledger data.
In addition, a Success entry is added to Practice Activity every 24 hours to confirm that the WIP and invoice data are in sync.
Displaying WIP Reconciliation
To display the WIP Reconciliation:
- In FYI, click the Automation menu option.
- Click on the Apps tab.
- Navigate to the Practice Ledger app and click the cog icon to edit.
- Click on the WIP Reconciliation tab.
- Review the WIP Reconciliation values.
The variance will be NIL, confirming that practice WIP and invoice data are reconciled.
WIP Reconciliation Values
The WIP Reconciliation fields display a total value for each calculation.
Note: Imported Interim Time entries are included in the calculation but are not displayed as a separate field in the WIP Reconciliation summary.
| Field | Details |
| Opening balance | The Opening balance is calculated from all imported and synced Time entries. |
| Billable amount | The Billable amount is the total value of all Time and Disbursement entries with a status of Submitted, Locked, and Invoiced. |
| Write on/off | The Write on/off is the total value of all Write On/Off amounts with a status Invoiced. |
| Invoice amount |
The Invoice amount is the total value of all Time and Disbursements with a status Invoiced. The value is displayed as a negative amount to reflect that it reduces the Closing Balance. |
| Interim amount |
The Interim amount is the total value of all Interim time entries, with the status Submitted, Locked and Invoiced. The value is displayed as a negative amount to reflect that it reduces the Closing Balance. |
| Closing balance | The Closing balance is the combined value of the Opening balance, Billable amount and Write on/off, less the Invoice amount and Interim amount. |
| All invoices | The All invoices amount is the total value of all invoices, excluding Credit Notes and invoices with a status of Deleted, Voided, or Draft. |
| Excluded invoices |
The Excluded invoices amount is the total value of all invoices with a Filing Status of Excluded, excluding Credit Notes and invoices with a status of Deleted, Voided, or Draft. The value is displayed as a negative amount to reflect that it reduces the Total invoices amount. |
| Unfiled invoices |
The Unfiled invoices amount is the total value of all invoices with a Filing Status of Unfiled, excluding Credit Notes and invoices with a status of Deleted, Voided, or Draft. The value is displayed as a negative amount to reflect that it reduces the Total invoices amount. |
| Total invoices | The Total invoices amount is the combined value of all invoices, less the Excluded and Unfiled invoices' amounts. |
| WIP movement from invoicing |
WIP movement from invoicing reflects the value of previously unbilled work that has been removed from Work in Progress as a result of being invoiced. This is calculated from Billable Time and Write On/Off, reduced by Invoiced and Interim amounts. |
| Variance |
Displays a NIL value. This confirms that the Total invoices amount and WIP movement from invoicing reconcile. |