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more...  Calculating Royalties

  Tracking Payments

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Tracking Payments

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.

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.

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.

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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