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 Calculating Royalties
Tracking Payments
System Architecture
Client Overview
Data Input
Process
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Besides calculating royalties PRTS supports Tracking Payments of calculated royalties to
Information Providers. Tracking process involves:
| Support Checks Workflow |
After Royalties calculated, Checks should be sent to Information
Providers. PRTS provides integrated Checks Workflow Support to lighten paper-based
work of tracking payments.
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| Tracking Check Requests |
PRTS introduces the mechanism of checks requests tracking. From
within the system, a manager can review checks requests, export requests
spreadsheets for accounting purposes, and import recent checks data back into the
PRTS database.
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| Check Analysis |
PRTS provides a set of Check Analysis reports so manager is able to
review all checks statuses, request or cancel checks and analyze calculated
royalty vs. paid checks.
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| Checks Requests Audit (Royalty vs. Paid Checks) |
A check request audit report tracks royalties earned, check request
amount, difference and comments. According to the results of comparing royalties
generated and checks paid, new check requests may be generated. That is new check
amounts will include only earnings over already paid amounts. Before committing a
quarter, PRTS will identify discrepancy between requested and paid amounts to warn
the user that more checks need to be generated.
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