The Royalty Payments screen may be used to provide a record of outgoing royalty payments, along with details on the royalty amount line items (from one or more Licenses) that were part of the royalty payment.
Process Accrued/Unpaid Writer & SR Royalties, Process Accrued/Unpaid Publisher Royalties, and Process Accrued/Unpaid Income Participant Royalties dashboards, may be used to identify and associate a royalty recipient’s royalty amount line items in one or more Licenses to an actual Royalty Payment. This provides an audit trail for standard and micro-royalty payouts.
The information on the Royalty Payments screen can be saved digitally as a pdf (or exported to excel or word) and provided to the royalty recipient to document what licenses and amounts were included in the royalty payment.
Royalty Payments are accessed via the drop-down list in the Royalties module. This will display a list of royalty payments sorted by Check/Payment ID (descending order) and Date Issued (descending order). Here you can Inline Add a new royalty payment, and Edit or View a royalty payment and it’s associated license royalty amount line items.
Add a Royalty Payment
For expediency and greatest accuracy, it is suggested that you use Process Accrued/Unpaid Writer & SR Royalties, Process Accrued/Unpaid Publisher Royalties, and Process Accrued/Unpaid Income Participant Royalties dashboards, to identify and associate a royalty recipient’s royalty amount line items in one or more Licenses to an actual Royalty Payment. These dashboards will allow you to easily add a new Royalty Payments record and associate many license royalty amount line items to the royalty payment all at one time.
Alternatively, you can add one or more royalty payments directly from the list, similar to a spreadsheet. When finished simply press Save all to save your work.
Edit a Royalty Payment
Click on Edit next to a Royalty Payments Check/Payment ID. This will take you to the Royalty Payments details screen which displays a list of all license royalty amount line items that have been associated with royalty Check/Payment ID. Here you can update data that is specific to the royalty payment (top of screen), then Save.
You can also update the license royalty amount line items in each section (bottom of screen). To do this, select the records that you wish to update, then press Update selected.
A pop up box will be displayed. Select the field that you wish to update, enter the data, then click on Update # records [The # placeholder will reference how many records you are updating simultaneously.]
The selected license royalty amount line items will be updated and the Royalty Payment details screen will be redisplayed showing the updates. Repeat the process for each section where you want to update data.
Related Topics:
Process Accrued/Unpaid Writer & SR Royalties