ELM Standard Manual Accrual Workflow
Note: Before reading further check if your environment has an automated accrual workflow. The steps below illustrate the manual Out of the Box Accrual workflow in ELM.
From your suite start an accrual process by clicking Add Accrual Process from the top menu.
On the Record launch screen choose an Accrual Type of either Monthly or Quarterly.
Choosing monthly will populate two new properties, Month and Year. When the monthly accrual type is selected the Monthly Accrual Process Dashboard will display a month to month breakdown of accrued and total budget.
Choosing quarterly will populate two new properties, Quarter and Year. When the quarterly accrual type is selected the Monthly Accrual Process Dashboard will display a quarter to quarter breakdown of accrued and total budget.
On Submit a new Department Accrual Process Record is created.
After the Department Accrual Process Record is created, click Accruals on your suite menu to go to the Accruals dashboard.
The Accruals dashboard, (A) displays the current month/year's Department Accrual Process and (B) lists out all pending Monthly Accrual Process Records.
On a Department Accrual Process Record there are three tabs.
- General displays high level information
- Vendors will list out every vendor who is assigned to Matters where an accrual is required
- Matters lists out every Matter where a vendor is assigned and requires accruals
Generating and Sending Accrual Spreadsheets
Spreadsheets are generated by Onit to collect accrual information from the Vendors tab via a bulk Action.
Once generated and sent to the vendor's billing contact, the Monthly Accrual Process Record will display the generated spreadsheet, the date it was generated, the date it was sent, and a due date.
The email notification contains a list of Matters that require accrual. Below, is a sample email that a vendor will receive:
When accruals spreadsheets are received, click the Update Accruals from Spreadsheet button to ingest the accruals. The appropriate amount will be reflected in the Monthly Accrual Request Record.
If an accrual was not entered for one of the Matters in the spreadsheet, the corresponding Monthly Accrual Request will stay in the Pending Accrual Requests tab.
After captured, the Accrual dashboard will aggregate and display the information.
