Acumen Royalty Management Module
Acumen Royalty Management Module
Manage You Complete Royalty Programme With ACUMEN Royalty Management System. ACUMEN Book Royalty Management ERP Module.
ACUMEN’s Royalties Management System Module combines easy, detailed, and complete audit ability, template-driven royalty record entry, extremely flexible royalty statement, report and check processing, and VRM tools to maximize the productivity of a publisher’s royalty team while maintaining excellent author relationships. The system is fully integrated with fulfillment, sales tracking, and accounting functions. Invoices, credit memos, and checks automatically update the royalties payable and/or the royalties advance subsidiary ledgers and corresponding GL accounts. Invoices and Credit Memos also update the cost of sales in the sales analysis system. GL journal entries can update the subsidiary ledgers as well. Integration with the DAM optional module makes it easy to store and access royalty statements and contracts.
ACUMEN Royalty Management Module Highlights
- Complete Flexibility in calculating Royalties
- Record list access to all tables necessary to provide complete royalty earnings and payment auditability.
- Royalty Rules support multiple price bases, e.g. Net Price, List Price, Gross Profit, escalators based on sales units or sales volume, discount levels, percentage and/or per unit earnings, and custom calculations.
- Sales level escalators can be based on multiple Product formats and editions.
- Configure Royalty Records as Templates to quickly load Royalty Rules and Terms into other new records.
- There can be multiple Royalty records for each Product and multiple Payees for each Royalty record.
- Preferences can be turned on to prevent Invoices and Credit Memos from posting if there they one or more line items for products that earn royalties but no corresponding Royalty record has been created.
- 360 Degree view into full audit & compliance tracking
- Create and assign Payment Groups for optimal cross-collateralization.
- Create and assign Royalty Advance Links for earn-down from multiple Royalty records.
- Five different Royalty Statements to choose from. Multiple preferences for each statement can be used to customize the chosen format.
- Flexible Royalty Statement Printing
- Royalty Checks can be created individually or mass generated in conjunction with Royalty Statement processing.
- List Item
- Royalty Checks can be printed or used as part of an electronic payment process.
- Royalty Statement and Check processing includes an audit report for payment due/check amount validation.
- Multiple audit reports are available to optionally use before processing statements and checks.
- Royalty Fix can be run if there are problems with incorrectly entered Royalty records.
- Royalty Reserves can be based on a percentage or fixed amount.
- Royalty payments are reported on IRS forms 1099 and 1042 as applicable.
ACUMEN can handle a vast variety of contractual agreements including reserves for returns, author/agent splits, sales levels from other products, sales levels that accumulate independently of one another, and more. For complete details on how to create a Royalty record that accurately reflects a written royalty contract refer to the Royalty Setup eManual. Refer to the Paying Royalties and Auditing Royalties eManuals for additional important topics.
ACUMEN Royalty System Work Flow Diagram
