The Status tab displays the status of royalty statements. You can view royalty statements from this screen and email a PDF of the statement to the royalty beneficiary.
Every royalty statement has a status of Pending, Verified or Issued.
- Pending is the default status for new statements.
- Verified indicates that the statement has been review and approved.
- Issued indicates that the statement has been finalized and issued to accounting for payment. Issued statements cannot be modified or deleted. If royalty runs are recalculated, issued statements are not included in recalculations.
Statement status can be changed from the status screen. You can update the status for multiple statements from the Data & functions > Royalty statements view by using the Actions command.
New statements for a contract’s beneficiary cannot be created until the prior statement has a status of Issued. This is because the starting balance for a new statement is based upon the ending balance of the prior statement.