The most comprehensive, billing, collections, and financial management software in the entertainment industry.

iCash integrates into iRights (rights management software) as the financial arm that handles all invoicing, billing, collections, financial reporting, banking, producer reporting, income recognition, and interfaces to financial systems. The goal of the iRights and iCash system is to always maintain a complete and accurate picture of all income and expense broken down by transaction, license, and title (and to right and territory if so specified in the invoice).

Below are some of its special features:

License and Title Gross to Net Tracking of Financial Activity

All invoicing, collections, and banking activity related to licenses and titles is always resolved and stored at the detail license and title level. For example, any payment applied to an invoice (or to multiple invoices) would always have its payment applications resolved to the individual invoice title allocation level (invoice detail level), and any fees or other expenses associated with the transaction would also be automatically apportioned as well. This apportionment is done automatically when the operator does not designate a specific application. Apportionment is always rounded and balanced in all currencies involved, so that any low level reports always foot to totals.

Transactions Maintained in Source, Deposit and Home Currencies

iCash supports invoices, receipts, and banking transactions in their source, deposit, and home currencies. Invoices (particularly overages) are often in local currencies such as Danish Krona or even Vietnamese Dong. Payments to these are often received into foreign currency accounts (e.g. Euros or Hong Kong Dollars). The expenses associated with these transactions could be based in any one of these three currencies, and the entire transaction and its components would have to balance in all three currencies.

Special logic has been added to the receipts and banking modules to deal with the calculation problems in such situations, including the ability to accurately calculate the value of payments and expenses in source currency when they are not reported by the deposit bank.

Banking System that feeds Cash Receipts and Banking Transactions

Identifying payments in deposit bank accounts can be a challenge. Sometimes only part of the information is known, or in some cases the information is wrong or misleading. This could tie-up entries and result in management not getting accurate or timely reports of receipts. In order to speed up the process, the Bank Log System operates as a staging ground for payments and other banking transactions, allowing the activity to be reported while problem transactions can be highlighted and resolved. Once the Bank Log transaction is fully resolved it can automatically feed a cash receipt or banking transaction.

Enhanced License Fee Schedule Definition with Recurring Payment Option

The fee schedule allows each scheduled payment to specify an invoice type (user defined types such as MG, Flat Fee, etc.) as well as an allocation type (License Fee Guarantee, Escalator, Adjustment, etc.) that helps to refine the revenue allocation in the generated invoices.

License fees can have a recurring payment schedule that begins either on a specified date or is based on a complex event calculation. The fee schedule can have a flexible definition that includes variations on the first, recurring, and last payment amounts.

Payment installment numbers can be aggregated, so the payment upon signature could be identified as installment 1 (or not) and the recurring invoices could begin on installment 2. Additional payment schedules can begin based on other scheduled events and can have their starting installment begin after the prior installment series ends.

License Financial Posting and License Invoice Synchronization

Licenses have a financial posting process where the license is evaluated for accuracy and financial completeness before invoices can be generated for its license fee schedule. During this validation process, if prior invoices have been created from this license they are compared in detail to the updated terms of the agreement and discrepancies are flagged. If the license had been previously posted and subsequently revised, all significant discrepancies with prior invoices must be resolved before the license can again be posted and invoices generated from the remaining un-invoiced fees in the license fee schedule.

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