WISE Report - Week in Sonovate Explained

Every Sunday, Time & Fund customers will receive the "Week in Sonovate Explained" email, if you have invoiced any timesheets in that week. The email contains a summary of your activity for the week, including:

• Client sales invoices and credit notes generated
• Supplier self-bills and credit notes generated
• Sonovate bills and credit notes generated
• Any margin payments made to you

What's included in the email? 

Margin and Payment Summary

This section shows a summary of invoice and credit values for this week. This then gives you an expected margin. However, the actual payment(s) you receive may differ from this. This may be because you started with a negative or positive balance (for example, due to adjustments that have taken place). The actual payment you receive will just be any positive balance that you have on your account at the end of the day.

You can also see a breakdown of all the payments that have been made during the week (this will match the attached ‘payments out’ file).

Invoice Summary

This section shows a summary of the invoices and credits that have been raised for each client, within the period (the detail can be found in the attached ‘invoices’ and the ‘invoices credits’ files).

Supplier Self-bill Summary

This section shows a summary of the suppler self-bill invoices that have been raised for each supplier, within the period (the detail can be found in the attached ‘selfbills’ and the ‘selfbill credits’ files).

Sonovate Bill Summary

Sonovate fees have typically been paid, either by direct debit, or by deducting from your margin. Therefore any Sonovate bills are purely for accounting purposes (the detail can be found in the attached ‘sonovatebills’ and ‘sonovatebill credits’ file).

What's included in the Report? 

The email contains 8 files. Most of these are in a format catered to Xero users, allowing you to easily import them into your accounting package. If you do not use Xero, you will currently need to modify the files to allow you to upload them.

• The invoice file – This file contains all client sales invoices that have been raised and funded by Sonovate within the week. Each line in the file is an invoice line (therefore you may see an invoice represented more than once). Please note, invoices that have not been funded (for whatever reason) will not be included in the file.
• The invoice credits file – This file contains any client credit notes that have been raised within the week. This could be because of adjustments that have been made in the system (e.g. VAT or timesheet adjustments).
• The self-bills file – This file contains the supplier invoices that have been raised and paid by Sonovate on your behalf within the week. Each line in the file is an invoice line (therefore you may see an invoice represented more than once). Please note, bills that have not been piad (for whatever reason) will not be included in the file.
• The self-bill credits file – This file contains any supplier self-bill credit notes that have been raised within the week. This could be because of adjustments that have been made in the system.
• The Sonovate bills file – This file contains any invoices raised by Sonovate to you, to cover our fees. This may include funding and/or platform fees.
• The Sonovate credits file – This file contains any credits that we have raised, for example where you have been refunded a fee.
• The paid timesheets margin file – This file show your net margin (client invoice – supplier bill – Sonovate bill) for each timesheet. This file allows you to track your margin, and is not to be imported into your accountancy package.
• The payments out file – This file contains the actual payments that have been made to your bank account during this period.

If any of the files are empty, that means that nothing was produced within the time period.