End of Period Reports
Get a clearer picture of your practice’s financial activity with Wise Option End of Period Reports. Designed to summarize the transactions within each billing period, these reports bring together invoiced charges, payments, customer credits, and direct account charges in one place. Review financial activity by transaction type, date, or category to better understand what was billed and what was collected. With clearer end-of-period reporting, your team can spend less time sorting through transactions and more time managing your practice.
Key Features & Benefits
Comprehensive Billing Period Summaries
Review financial transactions recorded during a specific billing period, including invoices, payments, credits, and direct charges. Get a consolidated view of what your practice billed and the payments received during that period.
Payment and Credit Reporting
Track payments and customer credits posted during the billing period. Review account activity to better understand how transactions affect customer balances and your practice’s financial records.
Customer Credits on Hold
Generate reports that identify customer credits marked as on hold. This helps your team distinguish credits that are not yet available for use from other account activity.
ACH Payment Status Tracking
Wise Option’s ACH integration automatically places initiated ACH payments on hold while the transaction is processing. Once the payment is confirmed as cleared or failed, its status is updated accordingly, helping your team account for payments that have not yet been finalized.
Direct Charge Reporting
Review charges posted directly to customer accounts rather than through invoices. These may include service fees and other account-level charges. View these transactions by category or by date, depending on how you want to analyze the activity.
Flexible Reporting Options
Choose the report format that best supports your review process. Analyze direct charges by category to understand the types of charges recorded, or by date to see when they occurred. Both views provide the same total, giving you flexibility without changing the overall reported amount.
Frequently Asked Questions
What are Wise Option End of Period Reports?
End of Period Reports are a collection of financial reports designed to summarize account and billing activity within a specific billing period. They help equine practices review invoices, payments, credits, and direct charges recorded during that period.
What information can I review in End of Period Reports?
Depending on the report, you can review invoices and billing activity, payments received, customer credits, credits placed on hold, and direct charges posted to customer accounts. These reports help you understand the transactions recorded during a billing period.
Can I see customer credits that are on hold?
Yes. Wise Option provides a report that specifically identifies customer credits marked as on hold, helping your team distinguish these credits from other account activity.
How does Wise Option handle ACH payments that are still processing?
When an ACH payment is initiated through Wise Option’s integration, the payment is automatically posted and marked as on hold while the transaction is processing. Once the transaction is confirmed as cleared or failed, the payment status is updated to reflect the outcome.
What are direct charges, and how are they different from invoices?
Direct charges are posted directly to a customer’s account rather than being issued through an invoice. Examples may include service fees and other account-level charges. End of Period Reports let you review these charges alongside other financial activity for a more complete picture of the billing period.
Can I view direct charges by category or date?
Yes. Wise Option offers two reporting options for direct charges: charges by category and charges by date. Both display the same total but organize the information differently, allowing you to choose the view that best suits your review process.
Do End of Period Reports show only payments collected during the billing period?
The reports analyze transactions recorded within the selected billing period. Depending on the report, this can include payments and credits posted during that period, along with invoiced activity and direct charges. A payment initiated during the period may still be marked as on hold if it has not yet cleared.
Why are End of Period Reports useful for equine practices?
Equine practices often manage complex billing activity across appointments, procedures, hospital stays, and other services. End of Period Reports help bring financial transactions together for easier review, giving practice teams greater visibility into what was billed, what was paid, and how customer accounts were affected during each billing period.