How To Read A Statement

How to read a Statement and Payee Summary

Dashboard (Summary)

The Dashboard page of each Statement and Payee Summary within the platform displays an overview of balances. The Payable Balance is displayed at the very top of the dashboard for each Statement.

Totals for recouped, payable ledgers are listed from largest to smallest balances that factor into the overall Payable Totals for that Statement. For each Ledger line, the Previous Balance of the prior Period and any applicable Payouts which were rendered to settle this balance are displayed, and the remaining total is factored into the Payee Share (i.e. the Payee's Share for the Period) with any applicable Transfers to calculate the final payee Balance for each Ledger. Unrecouped Ledgers display an Unrecouped badge.

Additionally, the Dashboard page includes helpful infographics to provide futher insight into totals for the Period, such as a breakdown of Top Releases and Top Tracks by Format.

Ledgers

By default, our system creates the Primary ledger to account for all cross-collateralized balances, and your Statement may include different ledgers for balances which are uncrossed. Each Ledger includes a breakdown by Release and Contract, and when expanding those Releases with the + button, you'll find a helpful breakdown of Track-level balance detail which factors into the overall project (Release) balance. Please note that non-attributed (N/A) totals in this breakdown refer to Release-level transactions - for example, Release sales like album downloads or vinyl sales.

These project lines should be read from left to right, as each Ledger line item details project Income, Expenses, Net (Income less Expenses), and the Payee Share for this Period which is determined by the Split upon the Net. Any Transfers, Payouts, or Previous Balances are then factored into the Payee Share to determine the final Payee Balance for those project lines. Each Balance is then cross-collateralized and calculated to determine the end Ledger Balance for that Period.

Additionally, the View links will isolate the Transactions accounted for in each of the Ledger line Items for a more itemized Transaction view.

Income

The Income tab provides a detailed breakdown of the Income accounted for in the Period by Track, Contract, and Format, and contains a helpful Format summary and Quantity by Release and Format chart at the top of the tab. This Format summary breaks down the Net Quantity, Income Total, and the Payee's Share of these totals for each Format across the Income for the Period.

Additionally - Income totals in the table below detail transactional totals by Track, Contract, and Format, and the Transaction View link for each line will display the Transactions calculated in those totals.

Expenses

Each expense for the Period is itemized by Date, Release, and Category, with any additional information summarized in the Memo column in the Expense tab. Each expense also displays the overall Expense total, the Payee split, and the Payee's Share of the expense.

Transfers & Payouts

This tab displays Transfers and Payouts which are applied to the payee balance at a 100% rate. Transfers are transactions that get directly credited to or debited from a payee's ledger balance - such as Advances, Previous Balances, or Tour Support - without regard to the net or payee split %s.

Payouts are a special type of Transfer transaction, applied to a payee's balance in full, used to settle the balances within a payee's summary/statement.  Payouts are applied to each balance from largest (positive) to smallest (negative). Payout contracts are automatically created by our system for any payout overages which are not applicable to line item balances at the time of payout - and these payout contracts ensure that the entirety of the payout is being credited at a 100% rate.

How to read a Legacy IC Statement and Payee Summary

The following instructions are applicable for the older formatting of IC Statements and Payee Summaries.

At the top of each statement & payee summary, all transactions for the period are summarized in a table in the Summary tab:

Income: Total income received within the Period for all releases and tracks

Expenses: Total expenses incurred within the Period for all releases and tracks

Net: Income less expenses

Payee Share Total: Total payee's share of the net for all releases and tracks, calculated by applying the Payee Split % for each balance upon net totals, broken down on each individual ledger tab

Current Payable: Total payee share for ledgers with a positive balance

Previous Payable: Total previous payable amount to payee as of start of period

Payouts: Payouts made during the period

Total Payable: Final payee balance for the period

Beneath the table is a list view outlining totals for the categories above for each individual ledger.

Ledger Tabs

Each ledger has its own detail tab similar to the Summary page with the same summarized transaction table and list view, providing a breakdown of balances by release and contract, starting with the Primary Ledger (by default, all cross collateralized balances fall into the Primary Ledger, unless uncrossed on their own ledger). 

The Payee Split is applied to the Net total to calculate the Payee Share for each balance. Any Previous Balances, Payouts for this period, and Transfers for this period are then factored in to calculate the Payee Balance for each line. Payee Balances are totaled to calculate each Ledger Balance for the period.

Income Tab

The Income tab breaks down income by source and format, and contains a helpful format summary at the top of the tab. 

This format summary breaks down the Net Units and Net Total for each format across income for the period. A link to all Transactions factored into an individual income total is available for each line item in the Details column.

Expense Tab

Each expense is itemized by Date, Release, and Category, with any additional information summarized in the Memo column in the Expense tab. The link in the Transaction column links directly to the expense transaction for each line. Please note: Expenses are listed in full, with their Payee Share %s calculated on the corresponding ledger.

Payouts & Transfers Tab

The Payouts & Transfers tab gives a breakdown of any Payouts and/or Transfers made within the statement Period.

Payouts are a special type of transaction, applied to a payee's balance in full, used to settle the balances within a payee's summary/statement.  Payouts are applied to each balance from largest (positive) to smallest (negative). Payout contracts are automatically created by our system for any payout overages which are not applicable to line item balances at the time of payout - & these payout contracts ensure that the entirety of the payout is being credited at a 100% rate.

Transfers are transactions that get directly credited to or debited from a payee's ledger balance - such as Advances, Previous Balances, or Tour Support - without regard to the net or payee split %s.