Creating New Payees

Overview

Payees can only be created within an existing contract or when creating a new contract.

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Prerequisites

Before creating a new payee, please ensure the following conditions are met:

1. Your account has "editor" permissions for Royalty Accounting.

2. Set up a new contract or have a pre-existing one you'd like to edit

New payees can only be created within contracts. If you discard a contract while editing it, any newly created payees in the contract will be discarded as well.

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How To: Create a New Payee

1

Open an existing contract or set up a new one

Navigate to Rights, and open a contract you'd like to add a new payee to or click Create New to start a new contract from scratch.

Follow our in-depth guide for creating a contract, and ensure contract details, included assets, and terms are filled in correctly, then continue to the next step.

2

Create & Add New Payee

Within the final section of the contract, Add Payees, click Add Payee, and from the modal window you can select a payee to add to the contract. Clicking the dropdown reveals an action to Create & Add New Payee—click this button.

3

Input Payee Details

Clicking to Create & Add New Payee will launch a new page (from your contract), where you can add the following payee details:

Required Fields*

• Type*: Choose between Company or Individual.

• Payee Name* and Pay To Name*

Not Required

• Tax Domicile Country: The country where the payee pays taxes.

• Tax ID and VAT Number: Only add if known (and applicable).

• Vendor ID: Only add if applicable.

When the Payee Portal is enabled for a payee, they can update these details themselves. However Tax Domicile country cannot be changed once set.

4

Add Payment Info

(If known) add the following payment details for the payee:

• Payment Method: Select from available methods.

• Starting Balance: Set an opening balance for the payee before processing any statements—can be positive or negative.

• Minimum Payment Threshold: Specify a minimum payout amount required for payment to be processed.

5

Configure Statements & Portal Access

In order to receive payments, payees must be given access to their Payee Portal.

• Payee Email: Enter an email address for portal access and receiving statements.

• Payee Portal: enable their Payee Portal if ready to give them access—can be done later.

  • You can configure view-only permissions for Catalog, Distribution, and Reporting & Analytics.

• Statement Summary Currency: Choose a currency for statement summaries.

6

Click Create Payee

When ready to create and add your payee to your contract, click Create Payee. Your new payee will be added to the contract where you can finalise their split % and more.

New payees will only be saved into the system when the contract being created (or edited) is saved. If you discard your contract, any newly created payees in the contract will be discarded as well.

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Expected Outcomes

Payee Received Payee Portal Email

If you enabled the payee portal for the new payee, they will be invited to set up their account to access their payee portal.

Starting Balance will be set

If you set a starting balance for the payee, a new transaction will be auto-created for the payee to reflect the amount that was input. Any statements that get processed for this payee will first take into consideration their starting balance before sending out any payments.

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Frequently Asked Questions

Can payees add or update their own details?

Yes.

Payees with Portal access can update their personal information, tax details, and payment preferences at any time from their settings. The only field that cannot be updated once set is Tax Domicile Country.

How do I add my payees advance on the contract?

Payee advances can be added as the payees starting balance. Enter the advance as a negative value, and when you go to process royalties to the payee, the balance will first be recouped before any payments are paid out to the payee.

See our article on Adding Payee Advances for more details.

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Additional Resources

• How to: Create a Contract
• Enabling Payee Portals
• Managing Your Payees
• Adding Payee Advances