In this tab the user can manually export the payments, the settlements and the accruals.
The file output format from this process is set in the entity menu under the section ‘Entity properties’.
An accounting lock is created by currency and date. The lock allows identifying the payments and settlements processed since the previous accounting lock. These are then transformed from provisions to payments and can be exported to the accounting department.
It is possible to create, view and export an accounting lock via the menu below:
Prior to the creation of an accounting lock it is possible to preview the content of the file to create by pressing « Create New » in the list of accounting lock and press « Preview ».
To create an accounting lock, the user must select « create new » in the list of accounting lock, press ‘Create’ and enter the name of the accounting lock.
To export the payment file corresponding to an accounting lock, the user must select a lock in the list and click on « Export Payments » to export the file.
To export the settlement file which belongs to the accounting lock, the user can select an accounting lock from the list and click on « Export Settlements » to export the file. The file will be saved in a dedicated file directory. Negative amounts will be completely excluded from settlement out files. Negative amounts will be completely excluded from settlement out files.
Upon reaching an accrued positive balance (total sum > 0) the balance will be included in the next export.
The export of the payment and settlement file can be automatic. During the export, an accounting lock is automatically created prior to the generation of the payment and settlement file.
The export of provisions includes all payments (regardless of their status) which have so far not been part of an accounting lock.
To export the provisions, the user must choose the period and press the export button.
Virtual provision can be created to create provisions where the standard process would not create any:
- Virtual provisions for payments IN: for each agreement IN, the last available files received will be copied for the periods for which no file has been received so far.
- Virtual provisions for payments OUT for periodic fees imported : for each agreement OUT based on current fees imported the latest fees calculated under fee model ‘fee distribution’ will be copied for the period for which no file has been received.
Virtual conditions have conditions to stop provisioning to avoid accruing forever. Virtual provisions are exported in a dedicated file during the same process that generates the standard provisions. The virtual provisions are calculated on the fly during the export.
An accrual snapshot shows all provisions at the time of the snapshot until period defined by the user. The snapshot allows identifying the variation between provisions and payments. This is often used for the end of the financial year.
The user can create a snapshot by selecting the end period and press « create the snapshot ». The user can delete only the most recent snapshot. To delete all snapshots the user has to delete the most recent one until there is no snapshot left.
The underlying content and format of the accrual snapshot will depend on the specifics of the RCP instance.
The information in the snapshot follows the below rules:
The data from the snapshot is based on the calculation period and not on the payment cycle. The calculated periods are included even if the payment cycle is not terminated. Example: if the payment cycle is quarterly but the calculation cycle monthly, the completed months by the time of the snapshot will be included.
- The snapshot includes the calculated periods prior to the end period of the snapshot.
- Payments which have been part of an accounting lock will not be included in the snapshot.
- It is a snapshot functionality per entity
- A snapshot includes all currencies.
- The amounts in the snapshot are separated by product and type of service