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- Royalty Accounting
- Frequently asked questions
Questions, answered
Practical answers for the first royalty accounting cycle.
Royalty Accounting
10 questions
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How do I get started?
Click Get started, then use Proto to configure Royalty Accounting for your business. Start with one organization, partner, contract, reporting period and reviewed document.
What makes a royalty statement ready for review?
Enter its contract, period end, eligible units and rate, connect the parent document and provide the supporting evidence. Submit a fixed revision for the independent reviewer.
Who approves an accounting document?
An Independent Reviewer decides the submitted revision and records a reason. The Accounting Preparer owns preparation and corrections.
When does approved value become posted value?
After an open-period check, saved journal lines balance and the journal and source document are marked Posted with actual dates.
Can a payment event be applied twice?
The receipt keeps the provider event identity, and application uses a stable operation key. The reconciler checks persisted applications and remaining amounts before another attempt.
How do partial receipts work?
A positive application may use part of a verified receipt and part of a posted document’s outstanding amount. Both remaining values stay available for reconciliation.
How are rejected statements corrected?
The preparer revises the claim and submits the new version. The earlier decision and its reason remain tied to the earlier revision.
What happens after a posted amount needs correction?
The reviewer authorizes the executed correction, and a compensating journal retains the original source identity and effect history.
Where do uncertain operations appear?
Operations Needing Review and Failed Operations show result records that need examination against local sources and effects.
What does Operations Overview show?
It brings posted value, ledger balance, pending decisions and failed operations into one starting screen for the finance team.
Set up Royalty Accounting your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.