Paying Royalties
Last updated
Last updated
The Royalties section contains all information about outgoing royalty payments and their respective payees. View your statements, royalty runs, past and pending payments, and detailed information about your payees.
This section allows you to view and approve all existing royalty statements. You can also view and create royalty runs for statements with inconsistencies that have been corrected for.
Statements: View all royalty statements for payees, their associated contracts, the amount of money paid, and the current approval status.
Royalty Runs: View and create royalty runs. Typically these are used to adjust for corrections in reporting.
You may create a royalty run if there were errors corrected or adjustments made to previous accounting periods. If there has been a payment error in a previous accounting period, but they have not yet been corrected for, a new royalty run will not likely be helpful until they are. You must include at least one pre-existing report in order to create a royalty run. Click “Next” at the end of each section to continue.
Settings: Edit the basic information regarding the run in this section.
Select the desired reporting period using the year and month drop down menus.
Create a name for your statement that is helpful for you. The reporting period will be automatically attached to the name.
Optionally add notes regarding this royalty run for yourself. Payees will not see what you enter here.
Checklist: Confirm that this royalty run will be helpful for all parties involved in this section. Click the “Done” button on the right side if you have in fact confirmed the improvements listed in each section.
Reports
Contracts
Payments
Coherence
Reports (unprocessed):
Examine your reports for the current viewing period and determine whether any require FX (foreign exchange) currency conversion, or have any other errors.
Approve all reports you would like to include.
Reports (processed): If you need to include previously processed reports in this run, you may add them here.
Select the time period for the previously processed reports you would like to include.
Select the reports you would like to include.
Review & Save: Examine the royalty run information presented here and click “Approve” if it is all correct.