Authors' Royalties System

In a publisher's calendar, paying authors has always been a daunting task, where it could take several months to analyse the sales in the relevant royalty periods, create royalty statements and including adjustments for advances, copyright fees, and permissions which were paid out in the same royalty pay period. With the FOP Royalty System this task is comprehensively and effortlessly performed. Our Royalty module can cut down the time it takes to just 2 days; one day to print and collate documents (i.e. attaching authors overall statement of account to the individual royalty statements per title), and the other day to print or write cheques. It can be that simple. But we do also have a mechanism in place to filter the royalty payments, where for example it could be set so that invoices having over 60% discount are ignored, or certain customers can be ignored in the calculation.

The Royalty Module integrates with the Purchase Ledger Module in a unique way, because the sales transactions covering the net sales per title are analysed according to the authors' agreement/contract, and the resultant approved royalty statement are posted into the purchase ledger from the royalty module. The FOP Purchase Ledger Module captures all transactions for each statement ever produced but also assembles all the non-royalty transactions such as advances, copyright fees and permissions. The balances of author's purchase ledger account reveal the actual amount due to them.

If you maintain a clause in your author's contract stating a minimum amount payable, the FOP purchase ledger is able to carry in perpetuity, all those accounts which fall below the stipulated minimum payment.

Multi-author and multi-title The FOP Royalty Module allows you handle multiple authors per title, and multiple titles per author. Different royalty payment amounts for authors on same book.

Format Royalties are calculated for a specified period from sales transactions and can be summarized in one of four formats; title by sale type, by account type, by nominal code or summarized by user specified text.

Definitions Royalty payments can be defined in three ways; as a percentage of net sales, as a percentage of quantity sold (minus gratis) or as an escalated royalty percentage based on breakpoints in the quantity sold. There is no limit to the number of breakpoints you can set per author per title.

Deductions Advances to author, copyright fees and permissions are recorded in the purchase ledger as credit notes and are deducted from royalty payable.

Dummy statements Dummy statements can be produced as many times as required, until the user initiates the actual statement printing and the ledger update.

Preserved Royalty It posts royalty statements as invoices into the purchase ledger and then flag related sales transactions, to prevent duplicate royalty payment.

Series editor statements Produce series editor statements and flag related sales transactions.

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