What’s New in Iptor IP1 V12?

On Excel 3rd party sales upload; each line must be allocated to only one contract.

An uploaded batch with 3rd party sales data can be deleted even if its invoiced as long as the invoice is rejected.

The 3rd party collections sales data can have either Works ID or 3rd party item on the excel upload; the program will accept either. If its a 3rd party item then it will be validated with the rights exploit to retrieve the payment contract and the works ID.

Sales Royalty invoice for a 3rd party external sale can be reversed by copying the original sales and reversing the sales entries. On reversal, any advance offset will be reversed.

On reversal of Royalty sales invoice, any advance offsets will also be reversed so the carried forward balance is accurate.

Contacts are added to contracts with contact as a filter on Work with Contracts.

Submissions from competing vendors (sub-agents) are now accepted for the exploitation of subrights. On review these submissions can be approved or rejected or cancelled by the vendor. On approval the submissions contract is converted into a collection contract.

Contracts now allows multiple groups of texts by date/time/user with a new tracking screen that lists all the text groups in descending order by tag/date/time.

Prepayment from a customer in the form of an advance B/F is captured with recoverable charge type that has no charge item and no paythrough defined. On release these charges will update the balance but  will not appear on Collection Charges Management panel, as there is no invoicing. These prepayments can be used to offset charges during invoice generation.

Rights by work inquiry – New Rights inquiry (RYI430) displays rights exploits by contract by works for the selected Item/Contract/Payee or Works.

Rights inquiry by customer – New Rights by customer inquiry (RYI420) displays the rights exploits for the selected contact/customer.

Accumulation codes can be used when a contract has a combination of movement types for accumulation for rising royalty. The movements within a combination must have the same contract specific accumulation code to accumulate the quantity for rising royalty calculation. This will be in addition to any other movements that are setup for inclusion.

Any underpayments received on a collection contract will be processed as a royalty cost receipt adjustment and prorated accordingly for paythrough calculation.

If subrights COS accrual account is not defined then the COS is suppressed for pay through amount.

Cash accounting for subrights sales and cost will only be allowed after collections invoice payment receipt and subsequent paythrough process.

Subrights does not have to be linked to a payment contract unless there is a need to pay through to royalty payment contract. Collection contract can then exploit the subrights, meaning that we can charge the customer, but there is no need to pay through to royalty payment contract.

Sales orders for author copies and author sales can be entered for a royalty contract via payee share maintenance using a dummy customer and the payee’s creditor’s address for delivery. These orders do not attract any royalty payments and can be easily tracked in the royalty tracking system.

For expired payees, Royalty from Sales, Subledger allocation (to contract as a whole), GDM, CAL and Collection Paythrough will be stopped but CAL for pay direct where payee is nominated in the CAL upload will be allowed. 

Contacts are added to contracts with contact as a filter on Work with Contracts.

Allows contract search to match exact contract reference as well as generic search.

Contract creation is now allowed to be item centric whereby contracts can be created by item. If an item is entered then work will be automatically created and allocated to that item and the subsequent contract will have the work linked. New field item has also been added to the contract template. New option in Item maintenance includes royalty contract against item.

New filter (Linked) on Work with Contracts allows to filter linked contracts.

Contracts with the same Reference fields (either Reference 1 or Reference 2 as setup in TMSRY/RY-RRLK) can be linked. The sales for the linked contracts will be counted together for the purpose of stepping i.e. rising royalty.

Payee shares are now setup by effective royalty period. Share setups can be changed by copying from an existing period to a new open period. Royalty statements and payee share reports/inquiries will retrieve payee share information from the last effective period for the payee.

Payee balance update will post to any payee specified, even if the payee is expired, however if the payee is not specified then the amount will be split by the payee share within the royalty period posted.

Royalty payee balances can be transferred for an open royalty period to any contract/payee as subledger transactions.

The sequence of offsets when calculating the royalty payment due to a payee within a contract is determined by the setup in control file TMSRY/RY-SEQ. Royalty offsets also applies to expired contracts.

Returns provision can be setup by movement type with the rate extracted from contract movement.

Returns provisions will be reversed after expiry for expired payees.

Royalty period can be closed with 3 different options:

1. AP invoice – creates AP invoices for payment and interfaces to AP system, however if the Hold flag is set = Y in the creditor masterfile then AP invoice will not be generated, and GL journal would be created for the unpaid balance.
2. Defer payment – GL journal would be created for the unpaid balance; AP invoice would not be generated BUT the user has the option to release any unpaid balance later.
3. G/L only – GL journal would be created for the unpaid balance; AP invoice would not be generated, and the user CANNOT use the option to release any unpaid balance later.

The system will still generate the invoices for the current period even if the previous royalty period paid flag is “N” as long as it has a zero balance, i.e. the balance carried forward and the total current balance is zero for the previous period. Royalty trial balance report (RYR061) has a new field “Pending for previous period close” to show whether previous period must close before running the current period AP invoicing.

Royalty balances update program is changed to always update balance forward from previous royalty period’s carried forward. This is to ensure the opening balance is correct in case the Balance carried forward program was not run prior.

For advance balance adjustments where an author has been paid prior to contract creation,  an adjustment can be entered against advance type (TMSRY/RY-ADVT) which is set to generate G/L only from milestone. This adjustment is solely meant to offset the Royalty balance, it will NOT trigger any Advance Royalty payment to authors and it can be against any period.

Royalty balance creation for next period will carry all the balances forward to the next period except for zero balances for closed contracts and expired payees.

Royalty balance details screen will highlight periods which do not belong to payee effective period.

Royalty batch processing of the monthly run now has the option to run for a list of contracts. If re-calculation of accruals is flagged then the run would be restricted to a list of contracts only.

Royalty batch processing allows GL posting period to be ‘0’ i.e. to post to same period as Distribution.

For incoming GDM sales only the approved records will be selected for royalty calculations.

If a sale is allocated to a contract movement which uses RRP as basis, the system will not generate royalty charge if RRP is zero i.e. the sale will not be considered for royalty and it will show up as unallocated sales.

Royalty cost types (for secondary expenses) can be tracked in the system using unique movement types. These costs are only posted to deferment if the contract company is same as the sales company.

Royalty History maintenance selection will automatically fill the contract from the item (or vise versa) if there is a one to one relationship.

Royalty sales inquiry output to excel now includes ‘Our reference’ data from transaction details file.

In Royalty master inquiry (RYI000), when filtering by payee/agent, the system will show all contracts that belong to the payee/agent match code regardless of expiry period.

Search logic on Rights inquiry (RYI430) has been changed so if the entered item does not match it will use the item match in the following order until a match is found: alternate item, supplier item code.

Royalty balance by contract inquiry (RYI200) now displays the balances with 2 decimal place in XT.

Items that require a royalty contract can be setup by stock status as well as hierarchy combinations as configured in TMSRY/RY-HRCHY.

AP Payments can be held back for flagged payees and held in Unpaid GL accounts and released for payments via a new program (Release Royalty Unpaid Balance). Once released the system will reverse the unpaid GL journal and create AP invoice and interface to AP system. Payee IDs will be highlighted in Payee balance inquires where payments are held.

Royalty payments can be based on discounted unit price or RRP whichever is higher. Movement type must be setup with new selection field (discount unit price). On sales extraction Discounted unit price will be compared with RRP.

Royalty payment rule can be setup at company level (TMSRY/RY-APIF) to turn off the minimum payment checking; i.e. always pay irrespective of the minimum payment amount setup. Minimum payment processing can also be determined by royalty contract group (TMSRY/RY-RGRP), this will override the company level setup in TMSRY/RY-APIF.

Royalty minimum payment can be setup up royalty group by payee which will take precedence over other minimum payment setups.

New royalty payment status program provides a dashboard view of the last 20 royalty periods payment status with the option to pay the unpaid balances and/or close the royalty period.

Royalty sales interface batches can be deleted after update. Deletion would change the batch status to ‘X’.

New Royalty cost report shows Royalty allocation costs in transaction base currency.

Royalty trial balance report now lists the Item hierarchies as well to enable breakdown by hierarchy.

Royalty statement summary page can be printed by agent.

Author’s name is added to the Royalty Unallocated Sales report.

New program lists items which do not link to a royalty contract with options to create a contract, maintain an item or inquire on an item and functionality to export item details.

Subrights linked contract now highlights the linked primary contract and displays the total pay through percentage.

Works of different editions can be linked together, where a work can be child of another work (parent). Each work can have only ONE parent and the parent cannot be a child of another work (i.e. 1 generation only).

Items can be allocated to duplicate works with different allocation percentages and effective and expiry dates.