As the internal matter lead, you may be required to review the vendor accruals entries each month. You will be notified each month on the date when this begins. The 'review period' will start on a set day and continue to the last calendar day of the month.
To review accruals:
- Navigate to Menu > Financial Management > Review Accruals
- Begin reviewing the values that the firm has entered.
- Use the filters and high-low toggle on each column to find specific accruals. Ensure to click Search after changing any filters.
- Edit any incorrect figures (i.e. monitor ball-park figures, exact figures do not need to be confirmed with the firm).
- Add any relevant Comments.
- Tick the box beside the accruals you want to confirm.
- Click Confirm Selected.
- This will then feed into the overall accruals report that is run by your company.
- Un-check the Submit field to find out which firm has not submitted accruals. You can also enter the amount on behalf of them if they miss the deadline.
- Fields in pink highlight that your vendor has not submitted accruals.
Any amendments or comments you have made will feed into the end-of-month accruals report. If your vendors did not enter an accrual value on one of your matters, you can enter a value on their behalf.