Royalty Statements

The Royalty module enables you to

How to post author royalty payments

Here are the steps to posting payments for the paid royalty statements.

  1. Go to Accounts> Purchase Ledger > Payments
  2. Click on the magnifying glass, located to the right of the Accountfield, to find the author’s account.
  3. Tick the option Allocate this transaction.
  4. Find and tick the royalty statements you want to pay off.
  5. Next, enter the cheque amount, against the Amount Paid field.
  6. Finally, click the Save button to finish.

How to post author royalty advance

It is usual for the publisher, upon signing the book contract,  to make special payments to the author, such that same will be deducted from future royalty statements, until earned out. These steps describe how to post such special payments made to an authors, otherwise called an author advance.

  1. Go to Accounts > Purchase Ledger > Payments
  2. Click on the magnifying glass, located to the right of the Account field, to find the author’s account.
  3. Tick the option Is Royalty Advance for Stock Code.
  4. Next, click on the magnifying glass, to find and assign the Title in question.
  5. Next, enter the Amount (the advance) against the Amount Paid field.
  6. Finally, click the Save button to finish.

 The advance payment will be shown in a standard multi-title royalty statement format.

How to Post a Copyright/General Invoice

In the event that a payment needs to be made to an author, where the payment relates to more than one title, such as copyright licensing receipt, you may post an invoice as follows:

  1. Go to Accounts > Purchase Ledger > Invoices
  2. Click on the magnifying glass, located to the right of the Accountfield, to find the author’s account.
  3. Enter an appropriate narration for the invoice in the Description field
  4. Next, enter the
    • Trans Date: Transaction Date
    • Details: an appropriate description for the transaction line.
    • Your Reference: your reference for this Transaction
    • Nominal Code:should have been filled in by the system, otherwise use the magnifying glass to search and allocate appropriate nominal code.
  5. Next, please leave the following fields BLANK, unless you wish to specify individual title
    • Stock Code
    • Qty
    • Cost Code
  6. Next, enter the fee/amountyou wish to pay the author against “Expected Total Net” field and “Net” column.
  7. Finally, click the Save button, to finish.

Note: This invoice will appear on the “Statement of Account” and not the Royalty Statement”, as this is non-title specific

View Author Payment History

  1. Go to Accounts > Purchase Ledger > Profile
  2. Search for the author in the Account box
  3. The Transactions tab displays the selected author’s outstanding transactions by default
  4. Under the Type of Transactions tab select Payments
  5. Under Options un-tick Outstanding Transactions Only and tick Show transaction details