The Royalty schedule details record has four tabs.
The General tab specifies the name assigned to the schedule, the length of the royalty period and when statements & payments are due.
Name – Refers to the name of the royalty schedule. This name will appear in record lists and royalty run names. It is the default name prefix for the folder location of royalty statement PDF files.
Description – This is an internal description of what the name refers to.
Royalty cycle (months) – This field specifies the length of the royalty period in months.
|Royalty Period||Royalty Cycle|
First period from date – This field specifies the start date of the first royalty period for this schedule. For annual contracts the first period from date usually starts on the January first (I.e. 1/1/2014). For semi-annual contracts the date is usually July first (i.e. 7/1/2014).
Statements due within (months) – This field specifies when royalty statements are due. The software uses the First period from date, Royalty cycle (months) and Statements due within (months) to calculate when royalty statements are due. The due date can be displayed in record lists. The home page can display an alert for royalty statements due.