Overview

Upon completion of the actualization process in the scheduling modules, product and secondary costs are automatically accrued on a movement by movement basis. Cost accruals are generated immediately or as soon as pricing is complete.

Features

• Seamless and automatic generation of cost accruals after actualization is executed

• Automated generation of secondary cost accruals upon approval

• Automated calculation of formula pricing based on the formula parameters defined on the contract

• Utilization of a provisional price when formula pricing is not complete with a subsequent correction after completion

• Application of vendor invoices to accruals that closes the accrual and sets an open AP for the movement

• Integrated revision process to handle updates and changes

Advantages

• Integration with contract and scheduling modules automates the accrual process

• Vendor invoice approval is tightly integrated to cost accruals with preset variance limits for better control of payment approval

• Improved audit trail of accrual history as revisions are processed

Benefits

• Immediate accrual of all product and secondary costs as scheduled volumes are actualized

• Greater confidence in the accuracy of cost accruals

• Streamlined process for approving vendor invoices for payment

• Tighter variances between cost accruals and actual payments