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.
Start an accrual process from your suite 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 the accrued and total budget.
On Submit a new Department Accrual Process Record is created.
After creating the Department Accrual Process Record, click Accruals on your suite menu to go to the Accruals dashboard.
The Accruals dashboard displays the current month/year's Department Accrual Process and lists 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
Onit generates spreadsheets 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. Here 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 it is captured, the Accrual dashboard will aggregate and display the information.
