The General tab of the royalty contract specifies the contract reference, status and royalty schedule.
Reference number – is a unique identification code for this contract. The default code is system generated.
Account executive – is the manager responsible for this contract. For book publishers this is the acquisition editor.
Agreement status – This field can have a value of Active or Inactive. No royalties are calculated for contracts with a status of Inactive.
Foreign system reference – is an informational field. It has no impact on royalty calculations.
Currency – The currency dropdown list determines the currency for royalty statements generated for this contract. The currency cannot be changed after the first royalty statement is generated.
Contract title – is used to record the original name of the contract, if the contract name is different from the name of the title.
Often a book publisher will sign a contract that references a proposed title and the actual published title is different.
Will you issue royalty statements for this agreement? If selected royalty statements will be created based on the royalty schedule linked to this contract.
Royalty schedule dropdown list specifies what royalty schedule will be applied to this contract. The royalty schedule determines the royalty period, the royalty statement format and the default location for royalty statement PDF files.
First statements only when activities begin specifies that the first royalty statement will be created only after there are sales or rights income for this contract.
Typically a publisher will create the royalty contract one to four royalty periods prior to the publication date. This functionality delays the generation of royalty statements until the first sale is recorded.
This agreement is a template checkbox indicates that this contract is a template. When creating royalty contracts you can copy royalty terms from a template contract.
Contract on file informational checkbox is used to indicate a copy of the contract is on file. Many users will link a PDF to this contract using the Notes & attachments functionality.