Prices & Royalties
Our royalty software can calculate royalties based on the following prices:
- Retail – invoiced retail price
- MSRP – published retail price
- PPD – published price to dealer
The Retail price is the price shown on the invoice. This can differ from the MSRP price. QuickBooks invoices usually display the discounted price as the invoiced retail price.
The MSRP; the manufacturer’s suggested retail price, is also known as the list price. When a sales record is created (imported) the retail price stored in the edition record is used as the MSRP price. The royalty software will use the retail price specified by the version reference. If no version reference is specified the retail price for the default price is used as the list price. Large publisher royalties for print books are often based on the MSRP.
The PPD; published price to dealer, is the published wholesale price. Royalties for records, CDs and DVDs are often based on the wholesale price.
Edition Record Prices
You can view the prices linked to a product from the edition record’s Prices and versions tab.
Updating Prices via a File Import
You can use import type Titles & properties to update the list prices stored in EasyRoyalties.
The table below shows the fields most commonly used in a price update file.
|RetailPrice||This is the MSRP price||14.95|
|UnitCost||Update the unit cost if royalties are based on unit cost||5.03|
|VersionReference||Short descriptive text for this price||2015|
|DefaultVersion||Y or N||Y|
The ISBN is a required field.
Retail price is the MSRP, manufacturer’s suggested retail price.
Unit cost is the unit cost of the item. Many royalty contracts pay no royalties on sales made at below cost. When a sales record is created our royalty software uses the unit cost stored in the edition record if the cost was not specified in the sales import file.
Version reference is a short descriptive text. Examples are 2015 (for 2015 prices) or CAN2015 (for the 2015 Canadian prices). You can import or update price information for each version reference. To import multiple prices for a single edition (product) assign each price a different version reference.
Default version indicates whether this price is the default price. This price is used when the sales file does not specify a version reference. Each edition (product) can have only one default price.