The Process Accrued/Unpaid Publisher Royalties dashboard provides a report that shows total accrued/unpaid royalty amounts for Songwriters AND Sound Recording Owners, along with a detail list of the associated license royalty line items that make up the accrued amounts.
As a royalty recipient meets your company’s royalty payout threshold, this dashboard may be used to document payment of the royalties to the royalty recipient.
How it works:
After a License is added, royalty splits should be calculated and associated to the appropriate copyright owners of the musical work that is being licensed. Each royalty split line item that is attached to the license contains the recipient’s royalty amount, date paid, and check/payment id. This dashboard identifies unpaid license royalty line items from all licenses, and totals the unpaid amount for each writer and each sound recording owner royalty recipient. Once your royalty disbursement threshold has been met for a royalty recipient, and you’ve decided to distribute the accrued/unpaid royalties to the recipient, the dashboard may be used to update the affected license royalty line items with a date that the royalty was paid to the royalty recipient. Updating the Date Paid removes the license royalty line item from the report and detail list.
Process Accrued/Unpaid Writer & SR Owner Royalties is accessed via the Process License Royalties drop-down list that is found in the Royalties module.
In the indie music landscape, many times the songwriter is also the sound recording owner, therefore this dashboard will show two sets of reports and their supporting detail, one that shows accrued/unpaid writer royalties and the other that shows accrued/unpaid sound recording owner royalties. This consolidated view allows you to more easily evaluate whether or not a royalty recipient has met your company’s royalty payout threshold.
Review the Total Accrued/Unpaid Writer Royalties report (top left side of screen) and the Total Accrued/Unpaid SR Owner Royalties report (top right side of screen), and determine which royalty recipients you will be including in your royalty payout.
For each royalty recipient identified as ready for payment, type their name on the SEARCH bar and press the search icon to restrict the list to that royalty recipient.
Select the Accrued/Unpaid Writer Royalties detail records (bottom left side of the screen) or the Accrued/Unpaid SR Owner Royalties (bottom right side of the screen) that will be included in your payout a, then press Update selected.
Below, our royalty recipient “Loki Odinson” has both writer and sound recording owner royalties due. We are processing the writer royalties first in this example.
A pop up box will be displayed.
- Select the Date Paid field then enter the date the royalties will be paid to the royalty recipient. Entering the Date Paid will remove the selected royalties from the Total Accrued/Unpaid Writer Royalties or the Total Accrued/Unpaid SR Owner Royalties report and detail list.
- Optionally, you may also associate the selected royalties to a Royalty Payment, which then can be used to print a report that shows all license royalty line items that were included in the royalty payment. This report may be provided to the royalty recipient with your payment. To do this, select the Check/Payment ID field then add a new royalty payment following the prompts (or associate to an existing royalty payment).
- When finished click on Update # records [The # placeholder will reference how many records you are updating simultaneously.]
- The selected items will be updated and the Process Accrued/Unpaid Writer & SR Owner Royalties dashboard will be redisplayed showing the updates.
If you’d like to also process the sound recording owners for the royalty recipient, you can do that at this time, using the same process as just demonstrated above.
When finished entering the Date Paid, and optionally the Check/Payment ID, press the X icon in the search bar to remove the search parameter and re-display the report and detail list.
Repeat the process as needed to process all royalty recipients that you will be paying.