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- Royalty Accounting
- Process
- Cash application
Cash application
A verified payment event is the source for a cash receipt. The Cash Reconciler applies a positive amount to a posted accounting document, then reads back the saved applications to reconcile the source cash and financial effect. This keeps the remaining receipt and document amounts explainable.
Step by step
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Verify receipt Cash Reconciler
Check provider event identity, partner, amount and received date.
- Establish unique verified cash
- Updates Cash receipts, Business partners
-
Select posted document Cash Reconciler
Choose the intended counterparty and outstanding document.
- Establish intended source match
- Updates Accounting documents, Cash receipts
-
Lock remaining scope Cash Reconciler
Read unused receipt value and the document's outstanding amount.
- Measure unused and outstanding amounts
- Updates Cash applications, Accounting documents
-
Apply cash Cash Reconciler
Save an application that exceeds neither remaining amount.
- Persist positive allocation
- Updates Cash applications
-
Reconcile result Cash Reconciler
Read saved applications and record an operation receipt under a stable key.
- Check actual effects and record outcome
- Updates Cash applications, Operation receipts
Who does what
Roles and permissions- Cash Reconciler
- Owns verification and application.
- Ledger Controller
- Compares posted value.
- Independent Reviewer
- Handles unresolved operation results.
Set up Royalty Accounting your way.
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