Automating Manual Tasks/Eliminating Human Error Beth Yates Customer Success Team Lead, Team2

Purpose The purpose of this class is to show how centralized records and automated processes help to save time and mitigate the risk of human error. This makes difficult processes quicker and more efficient and reduces instances of corrections.

Meet Sally New Employee of Company X User ID: SAL

Automate Tasks The software performs the tasks for you Mitigates the risk of human error How does WolfePak automate tasks? AP Approval Flow Check Stub Entry Revenue Billing Cycle But First, Scanning…

Centralized Records With Scanning Benefits of Scanning Go paperless! Saves time and money during audits Easily accessible records/scans Acts as an electronic filing cabinet No lost invoices Comes with AP Approval Routing

Where Can I Have Centralized Records? Sub-Account Maintenance- Attach records for Vendors, Owners, Equipment, etc. Payroll/Company Documents-WC notices, Unemployment Rate Notices, etc. At the employee level- Scan in time sheets during a cycle. Payroll Employee Master/Documents Tab- Driver’s licenses, I-9’s, Employment Applications, Employee Pictures.

Centralized Records (cont.) Revenue Billing/Check Stub-Property Master/Docs Tab Fixed Assets-Asset Maintenance/Documents Tab Land- Scan Contracts into Land Contract Maintenance/Documents Tab

Centralized Records (cont.) Bank Reconciliation-Reconcile Bank Statement/Documents and Reconciliation History Maintenance. Bank Reconciliation-Reconcile Bank Statement/Documents and Reconciliation History Maintenance. Check Stub-Scan in Check Stub Detail for the Purchaser in Enter Deposits And there’s many more places!!!!

Approval Flow AP Routing Paths-Set up as many as you need! Company AP Options/Invoice Routing Approval Tab- Set company defaults, select Default Routing Path, and Enable AP Routing. Enter Invoices in Enter Invoices to Pay or Enter Checks & Drafts. Scan hard copy invoices in and attach to entered invoice. Select routing path. An alert reminder will appear when the approver on the invoice logs in to WolfePak.

Approval Flow (cont.) When invoice is finished routing it will update to the GL. View scanned images in View Trend (F4). View scanned documents View Created/Last Changed information View approval information on the Ledger Listing also! See where invoice is in the Approval Flow in Pending Invoices. .

Why Use Check Stub? Captures the sales on all the wells You can do 100% and internal reporting. Validates the decimal paid.

Check Stub Flow Check and check stub detail is received. Enter in Check Stub Deposit or import the stub detail through the CDEX or General imports. Scan check stubs View/Print Edit Listing

Check Stub Flow (cont.) Post Check Stub Deposit GL Owner Share stubs post to the General Ledger P&L range. Revenue Distribution Stubs post to the General Ledger/Revenue Distribution Accounts to distribute in the next cycle.

Why use Revenue Billing? Quick and Efficient Allows you to do a revenue and a billing cycle at the same time. No manual calculations. WolfePak does this for you! Can use ACH-no postage or stuffing envelopes.

Revenue/Billing Flow Enter Revenue (Deposits)/Revenue Costs in Check stub Enter Bills in Accounts Payable-code to Billing Accounts and Property

Revenue Billing Flow Extract Entries Extract Type: Revenue and Billing - For an extract that nets Revenue and Billing Revenue only – for a revenue only extract Billing only – for a billing only extract

The Cycle Distribute Combine Pre-Check Reports Write Checks Set up options to approve the Revenue/Billing check writing process. Can pay by ACH/Wire

The Cycle (Cont.) After Check Reports Update/Post Cycle Owner Summary for All Owners Settlement Statements Only for all Owners Update/Post Cycle Run when all checks/statements are in the mail Creates backup Unpaid/Unbilled report Suspense vs. GL balance

Investor Interface Posts entries after cycle update To the internal owner To another company Upload WolfeNet File Create Energylink or CDEX file No manual data entry! Less opportunity for errors

SUCCESS!!

Questions