How many royalty schedules should I have?
A company whose contracts have semi-annual and annual royalty periods will have a single schedule for annual contracts and a single schedule for semi-annual contracts.
A company with two subsidiaries; Best Press and Dancing Books, will have separate schedules for each press. This allows each press to generate statements with their logo.
A publisher has important authors whose agents want detailed royalty statements that shows sales by month. Other authors receive a royalty statement that summarizes royalty statement by royalty period. This publisher will have two royalty schedules; one that generates detailed royalty statements and another that generates simplified royalty statements.
A publisher’s authors receive royalty statements annually. Some receive royalty statements via email, while others receive royalty statements by mail. They could have a single schedule for all royalty contracts or separate schedules for emailed statements and mailed statements.
A publisher with 4,500 titles and 4,500 royalty contracts generates statements quarterly. That’s 4,500 royalty statements. Though they could have a single schedule for all statements we recommend separate schedules for beneficiaries A to F, G to M, and N to Z. This allows them to generate royalties statements in three batches of 1,500 statements each.
What does first period from date mean?
The first period from date; on the general tab, specifies the starting royalty period for the first royalty run created from this royalty schedule. Subsequent royalty runs for a schedule use the prior run’s period end date + 1 as the starting date for a new royalty run.
Sales activities that have not been applied against royalties; unless they are historical, prior to the beneficiary’s effect date or before the prior system statements through date, and are dated prior to the period end date of the new royalty run will be includes in royalty calculations for the new royalty run.
Is an email template required to automatically email PDFs of royalty statements to royalty beneficiaries?
Yes, an email template is required to email royalty statements to authors.
Emailing royalty statements requires:
- The royalty recipient must have an email address in their contact information.
(Data & functions > Authors/contributors view > Contributor record > Contact information tab)
- The royalty statement send method must be Email. Select Post if the author is to receive statements via mail.
(Data & functions >Authors/contributors view > Contributor record > Administrative tab)
3. Royalty statement recipients; beneficiary and/or agent, must be specified in the beneficiary details tabs.
(Data & functions > Royalty contracts view > Royalty contract record)
5. Microsoft Outlook for Windows edition must be installed.