Approving Statements

Overview

Approving a statement is a crucial step in finalizing revenue calculations and distributing royalties. Once a statement is approved, it is locked and cannot be modified unless unapproved.

Step-by-Step Guide to Approving Statements:

1

Review the Statement

• Carefully inspect the generated statement for accuracy.

• Verify revenue amounts, payees, and any associated data.

2

Approve the Statement

• Click on the "Approve" button in the statement management dashboard.

• Confirm the approval by selecting "Yes" in the confirmation prompt.

• The statement will now be marked as "Approved" and locked from further changes.

3

Batch Approving many-Statements at once

• Select multiple statements using checkboxes or a multi-select tool.

• Click the "Approve Selected" button.

• Confirm approval for all selected statements.

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Step-by-Step Guide to Unapproving a Statement

In some cases, you may need to unapprove a statement to correct errors or include omitted revenue. Unapproving reverts the statement to a draft or editable state.

1

Access the Approved Statement

• Navigate to the "Approved Statements" section.

• Locate the statement you need to unapprove.

2

Unapprove the Statement

• Click the "Unapprove" button.

• Confirm the action by selecting "Yes" when prompted.

• The statement will revert to an "Unapproved" or "Draft" status.

3

Edit the Statement

You may need to rep process the royalty run in order to make any necessary corrections, such as adding missed revenue or fixing calculation errors.

4

Re-Approve the Statement

After making changes and reviewing the statement, follow the standard approval process to lock the statement again.

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Why Unapproving Might Be Necessary:

• Missed Revenue: Realizing that some income sources were omitted.

• Calculation Errors: Detecting discrepancies in royalty splits or revenue allocations.

• Data Corrections: Spotting errors in metadata or payout configurations.

• Updating Payee Information: Adjusting payees or percentages after initial approval.

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Frequently Asked Questions

• Can I unapprove multiple statements at once? Yes, use the multi-select feature to unapprove several statements simultaneously.

• Is there a log of who approved/unapproved a statement? Yes, the system keeps an audit trail showing the user who performed each action and the timestamp.

• What happens to payout data when a statement is unapproved? Payouts linked to unapproved statements are halted or marked as pending until the statement is re-approved.