Royalty Accounting vs. Bookkeeping
Royalty accounting - the business of Infinite Catalog - is the process of combining financial data, metadata, and contract terms to determine the who, what, and when of a catalog's royalty payments. This can be very simple or very complicated depending on things like distribution arrangements, deal structures, and size.
Bookkeeping has to do with the entire business- how much is being made and spent as a whole. If you’re a record label this definitely includes the catalog, and there is overlap with royalties there, but it also has to do with things like bank accounts, overhead costs, owner’s draws, etc. We don't do bookkeeping at IC, but our sister company