The Data & functions > Royalty payments export field list has been updated (as of 4.10.17) to include address fields for the beneficiary, agent and payment recipient (the beneficiary or the agent).The PayTo field values are determined by the Payment to agent? field in the royalty contract record.
- If the payment to agent is true (yes) then the PayTo fields will be populated by the agent’s information.
- If the payment to agent is false (no) the PayTo fields will be populated with the beneficiary’s information.
The royalty recipient’s agent and the payment to agent field is specified in the royalty contract.
If the royalty contract has an agent, you can also select the payment to agent field in the Royalty payment > More > Payment issued to agent field. This will change the PayTo from the beneficiary to the agent.
Tip: When exporting payment information include the Payment Number field for use as the vendor invoice number when the creating invoices for royalty payments in your accounting software. When payments are issued you can export a file with the payment number, payment date, payment method and payment reference from your accounting software. This file can be imported into the royalty software to update records with the actual payment information.
This EasyRoyalties Version 4 update can be download from www.erupdate.net. This royalty software update includes all prior updates.