The Beneficiary details tab contains information about the contributor(s) for this contract. New contributors are added in the All beneficiaries tab.
If the royalty beneficiary has an agent this screen is where the agent is specified.
Beneficiary type can be selected from the drop down box. This type can be displayed on a royalty statement.
Agent section is where the agent for the beneficiary is specified.
Statement recipients specifies which parties; the beneficiary and/or the agent, will receive royalty statements via email.
Effective dates is optional. This date range specifies the date range during which sales activities accrue royalties.
Split – The percentage of the royalty earnings that are paid to the beneficiary. If this field is blank the beneficiary receives 100%.
Minimum payment – A value in this section means that royalties will not be paid if the amount due is less than the minimum payment amount. The This beneficiary (all contracts) minimum calculates the minimum based on the total due for all statements. This contract only minimum bases the payment minimum only on the royalties earned for this contract.
The table above illustrates the differences between these two payment minimum types.
Contract group dropdown list is used if the beneficiaries royalties are cross collateralized against other titles for this beneficiary. The contract group is specified in the Data & functions > Authors/contributors view.
Copies & Discounts
The Copies & discounts tab is where the author copies and discount terms are stored.
Note: Publishers often add a to do task in the Royalty contract > Schedule & progress tab to remind them of their obligation to send the author copies of their published work.
Unearned advance is the prior royalty system’s ending balance for unearned advances. This is a negative number.
Unearned royalties is the prior royalty system’s ending balance for unearned royalties. Unearned royalties are negative royalties that accrue when returns exceed sales or when deductible expenses exceed the current period’s royalty earnings. This is a negative number.
Outstanding payment due is the amount due from the prior royalty system’s last royalty statement. This is a positive number.
WARNING: There is a historical balances menu item in the royalty contracts record. If you enter a balance for unearned advance, unearned royalties or outstanding payments due in the beneficiary detail’s Historical balances “TAB” DO NOT duplicate these balances by also entering them in the royalty contract record’s Historical balances “MENU” item.
NOTE: The above screen images are from EasyRoyalties Version 4.6.28. If your Version 4 royalty software installation has an earlier version of the software you can update your software from the Options & settings > About or the Preferences > About menu item.