The most time consuming aspect of any royalty software implementation is the creation of royalty contracts.
Royalty agreements can be created after author and title records are created.
Creating royalty agreements is a two stage process;
- Stage 1. Create the royalty contract records
- Stage 2. Enter/import the prior system ending balances for unearned advances, unearned royalties, reserves for returns and withheld royalties payable amounts (i.e. below minimum payment amounts).
EasyRoyalties has five options for creating royalty contracts:
Option 1. Manually create royalty contracts
Option 2. Manually create royalty contracts using template contracts
Many organizations base their contracts on a few standard template contracts. When creating a new contract in EasyRoyalties you can copy the royalty terms and royalty rules from a template contract. This greatly reduces the time that it takes to create a royalty contract.
For clients with an Enhanced Support agreement we will create up to four template contracts for you to reference.
Option 3. Engage our staff to create royalty contracts from an excel file that references temple contract
For clients with an Enhanced Support agreement, our staff can create royalty contracts from an excel file that references the Title code, author code, author percentage share, and template contract reference. There is no charge for this.
Option 4. Engage our staff to create royalty contracts from an Excel file that shows the royalty rules for each product ($ to $$$)
Our staff can create royalty contracts from an excel file with the royalty rules for each contract. The cost of this option is dependent upon the format of the Excel file and the complexity of your royalty rules.
Option 5. Engage our staff to create royalty contracts from Acrobat files (or paper copies) of royalty contracts ($$$$)
Our staff can create royalty contracts by reading copies of your royalty contracts. This is the most expensive and time consuming option.