Making Adjustments

In some instances, you may discover that a contributor has been overpaid or underpaid in a previous royalty run. This could be for any number of reasons, for instance if the percentage had been written inaccurately in the original royalty rule. Not to fear! The Stison system will enable you to make these sort of adjustments very easily. The overpayment/underpayment will then need to be applied to the subsequent pay run, as any sales already processed will not be reconsidered. 

Firstly - you must make sure to correct whatever error caused the overpayment/underpayment to begin with. In our example, this would mean going back into the relevant royalty rule.

For an Overpayment:

Navigate to: Sales/Royalties -> Payments/Advances.

Click on the Create button towards the top of your screen:

The screen will then expand into the following fields:

We have circled in red above the fields that need to be in place to make sure this item is registered on the system as an adjustment for an overpayment of some sort. With this information in place, the payment will come into the next run as a negative value. So if you have a balance carried forward, it will offset against that. If not, it will counter any new royalties they encounter until the adjustment is used up.

Please also note that the Payee field may not necessarily be the Contributor. If you have an agency that receives the royalties, for instance, then you will need to place the agency within that field. Then when you click on the Search icon within Book Title, all of the relevant titles associated with the contributor appear for you to choose from.

Click Update when you've filled in all of the relevant information as above.

The item will then appear in your main list as shown here:

For an Underpayment:

Follow the instructions as above, adapting the Payment Description to reflect that you are recording an underpayment that needs to be applied to the next pay run. 

In the Net Amount field, you will then add the figure as a negative number, as shown below:

When you click Update, the item will appear in the main Payments list as a negative value, shown here:

This means that the negative amount will thus increase the Payee's payments in the next pay run.