Our royalty software’s royalty run record (Data & functions > Royalty runs > royalty run record) has four reports designed to help users review royalties payable for a royalty period (royalty run). You can access these reports from the Documents button in the toolbar at the top of the window.
1. Accounting Summary report
The accounting summary shows royalties payable subtotaled by agent and author for a royalty period. This report can be filtered by send method (email, portal, post) and statement status (issued, verified, not issued or verified). It has an option to include a column for royalties earned.
The accounting staff will this report to verify royalties payables that were entered or imported into the accounts payable system.
2. GL Accounting Summary report
This report summarizes the financial impact of the royalty statements for a royalty run (or selected royalty statements) on the general ledger trial balance.
This document shows the impact (debit and credit) on accounts for :
- Royalty expense
- Reserves withheld
- Reserves released
- Royalty advances earned out
- Payments deferred
- Deferred payments released
- Unearned royalties accrued
- Unearned royalties earned out
- Fees withheld
- Excess fees carried forward
- Accounts payable
The GL Accounting Summary report is used to record activities; such as reserved withheld and released, that were not recorded when entering royalties payable into your accounting software.
3. Royalty Statement report
The royalty statement report document prints all the statements for a royalty run (royalty period).
If you want to create separate PDFs for each payable used the Generate (Regenerate) button in the Data & functions > royalty run record for this period. If you want to print a selected statement(s) you can do this from the Data & functions > Royalty statements view.
4. Unresolved royalty activities report
The Unresolved Royalty Activities report shows sales that could not be matched to a royalty rule.
Example: Sales imported for eBooks do not earn royalties because there is no royalty rule for the edition format: eBook. There is a rule for the hardcover and paperback formats.
After calculating royalty statements for a royalty run (royalty period) run this report. If unresolved royalties are reported, edit the relevant royalty contract(s) to add the required royalty rule. Then recalculate the royalties for this run (or royalty statement).
Tip: You can recalculate an individual royalty statement from the Data & functions > Royalty statements > Royalty statement record.
