Royalty contracts are linked to works, which are linked to titles. Each work can have multiple contracts to handle different calculations of Royalties.
Using movement definitions, the user specifies which transactions are to be used in the calculation of Royalties. Movement definitions instructs the Royalties system to retrieve specific transactions from the ISBNs transaction files. Transactions can be classified as Sales (therefore Royalties are calculated), or as stock movements. A range of transactions, buying groups and major accounts can be included or excluded from the Royalty calculation.
Stepped or Rising Royalties can be defined. Different Royalty rates and Price bases may come into effect, based on pre-defined transaction quantities. For example for the first 10000 the percentage royalty payment could be 10% but for the next 10000, which could be the second print run, the royalty payment could be higher, say 12% as the publishing expenses are usually recovered in the first print run.
Flexible account set definitions
Flexible Royalties calculation based on the ISBN’s Unit Price. The Unit Price can be the Recommended Retail Price, Price Received/Net value or Average Selling Price.
Multiple provisions for stock returns by items. Stock and Sales information can be maintained.
Multiple and unlimited Payees can be defined by ISBN. Payments and Deductions are distributed based on percentage Share of the registered Payees. The Royalties can be split between various people who have been involved in the production of the title. A Contract specifies who these people are (payees) and what percentage they should receive.
With Milestone management, the user can define multiple types of advances per Payee and release for payment by due date.
CAL revenue and GDM (Global datamart) sales can be uploaded via excel templates for processing.
A Permissions/Subsidiary Rights sub-ledger is interlinked with the Accounts Payable and General Ledger systems to allow the posting of Royalty related payments and deductions to the Royalties system.
Interface to Accounts Payable for the payment of Royalties, Advances and related amounts. AP interface can be further suppressed by royalty groups.
Royalty Statements can be generated for a selected Royalty Period and Payment Frequency and emailed out.
