Adding Individual Payments/Advances Follow
It is possible to upload payments/advances in bulk. For this article, we will take you through adding one payments/advance at a time manually.
Navigate to: Payments/Advances found within the main Sales/Royalties menu.
Click on the Create button and you will be taken to Step 1 in creating your new payment:
The first item you need to add is the Payee's name. Clicking on Select will bring up your full list of payees and enable you to choose the correct one. You can also manually type in the name if you prefer, though we don't recommend this in case of typos.
Choosing the relevant contributor will bring up the payment detail section, which is Step 2:
The compulsory fields are marked with a red *, and are as follows:
- Book Title
- Payment Type
- Net Amount
If you need to pay in an alternate currency, change the currency to the appropriate value and more options will be available, such as the exchange rate and native currency amount.
Additionally, if you need to add withholding tax or VAT/GST, then click the blue links on screen and more options will appear.
An advance payment may be related to a rights sale. In our example below, we have sold the Greek rights for Title 14, with advance payments given to each contributor (before any physical books are actually sold/exchanged):
Subsequent sales of that book (the Greek translation in this case) will then be offset against the advance until a 0 balance is achieved. After that, subsequent sales will begin to accrue royalties for these contributors again. Further information is available for adding a rights sale to the system.
When you are satisfied with the information you've added, click on the Create button and your payment will be visible on the main list:
By clicking on Download XLS, an XSL document will be downloaded on your device with the details about all your payments that match the currently applied filters:
Please note that advances are just payments. You may have negotiated an advance payment with your contributor and all subsequent royalties will then be taken from that advance figure until the advance is cleared.
To make a note appear against a payment within the royalty run, simply add a comment onto the payment. Payments can be set against a previous statement with the beta payment screen.
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