07. Payments
Manages distribution of funds to clients, participants, and other parties based on calculated amounts from Settlement, implementing approval workflows and control processes.
07. Payments Productboard component link
07.01. Payment Queue Management
Organizes and prioritizes payment processing activities through queue management systems with appropriate triggers and holds.
07.01.01. User queue management — Maintains personalized work queues for each user showing pending payment tasks, new bookings requiring attention, and other payment-related work items.
07.01.02. Milestone due flagging — Automatically flags client booking milestones that have become due for payment based on service delivery and cash receipt status.
07.01.03. Payment hold functionality — Enables placement of client payments on hold when requested by agents, tracking hold status and enabling release on a specified future date, for example hold until the new year.
07.01.04. Client obligation visibility — Provides visibility to client status, need for backup, commission or loans due across departments so that payments can be held if necessary.
07.01.05. Payment trigger processing — Processes various payment triggers including automatic triggers based on cash receipt and service delivery, and manual triggers from accounting staff. For Music and Comedy, “final totals” trigger the payment process.
07.02. Payment Processing and Distribution
Executes the actual generation and distribution of payments to all parties using various payment methods and processors while maintaining detailed documentation.
07.02.01. Payment file generation — Creates payment files in appropriate formats for various payment processors and banking systems based on calculated amounts from Settlement function.
07.02.02. Multi-participant payment execution — Executes payments to multiple parties (clients, managers, lawyers, etc.) from single transactions, ensuring proper distribution to all entitled recipients.
07.02.03. Pass-through payment handling — Processes commission-free payments where UTA acts as a conduit for funds between buyers and clients or other parties.
07.02.04. Multi-account processing — Handles payment processing from multiple UTA bank accounts, coordinating internal transfers when necessary to ensure sufficient funds.
07.02.05. Remittance detail provision — Generates and distributes appropriate remittance information to all payment recipients and relevant UTA staff members.
07.03. Payment Approval and Control Workflow
Implements approval and control processes to ensure proper authorization and compliance for all payments with appropriate separation of duties.
07.03.01. Pre-settlement review workflow — Implements review workflows where agents and assistants can review pre-settlement statements before payments are processed, with different access levels by department. Approval by agents can be optional.
07.03.02. DCA compliance validation — Ensures all payment processing meets DCA (Department of Consumer Affairs) compliance requirements for trust account management and client fund protection.
07.03.03. Separation of duties implementation — Implements separation of duties between cash management staff and various levels of client accounting representatives.
07.03.04. Audit trail maintenance — Maintains audit trails of all payment approvals, decisions, and processing activities.
07.03.05. Exception documentation — Documents any exceptions to standard payment processes, special handling requirements, and the justification for non-standard processing.