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