Report for earned and unearned advances
We need a report that shows the status of all advances by title. This report will show us which books have already earned out, which published books have yet to earn out, and what our future liabilities are for books that aren't yet published. We use this information to help determine future advances and to keep our liabilities accurate in our accounting system. Any way of looking at advances that helps us understand our current financial picture as it relates to advances, if there are other ways to look at this data, is helpful.
- Title/author/isbn/publication date etc
- Details of the total advance due in the contract (what amount is to be paid on what schedule)
- If the book is NYP, what amount of the advance has been paid, and what amount(s) are due before or at publication
- After publication - how much of the advance has earned out based on royalties paid
- After publication - how much of the advance will earn out in the next royalty payment
- After publication - how much of the advance is unearned as of the latest sales report
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