When you start using the Royalty System, you will need to configure the system so that it can work alongside your business requirements.
There are three areas that you will need to configure to enable the Royalties module to work for you. Each of these is briefly described below, and in addition to this, there are links to step by step documents and videos to assist you.
Your publishing business will have its own Royalty period and the system needs to know what this is. You can have more than one Royalty period, you will just need to ensure that each title is attributed to the correct payment frequency (details of this can be found in the Royalty Contract section).
To gain access to this area, navigate to the menu area Sales / Royalties, and from there choose the Royalties Config menu (this can be located under the Configuration heading).
Clicking on this menu item will open the following screen.
Here you will be able to create and delete all Payment frequencies that you require, it also shows you when Royalty Statements were last run.
Click on create new and you will be able to create a new config. Details on creating a new config are available by clicking here.
Sales types will relate directly to the royalty schedule in your contracts. They enable the system to know which category to place sales. Examples include: Home Sales, Export Sales, or Book Club.
Sales Types are independent to product form; the relationship between the two occurs at work / title level.
Sales Types are created by navigating to Sales / Royalties then Sales.
Navigating there will bring you to the following screen.
To save Contributor queries at a later date, it is advisable to match terminology held in the Contributor contracts as closely as possible to the names give to sales types.
General Royalty Options
There are a few global configuration options that are available to you, these include setting maximum discount rates and customising the look and feel of your Royalty Statements.
To access this you will need to navigate to the General Menu area, and from there selecting Configuration.
This will open the main configuration options you should then select the Royalties Tab.
Further information on this can be found in the General Adminstration manual.