Payee Summaries vs. Statements

We break down royalty accounting periods for payees in two ways: Summaries and Statements. 


The always-up-to-date breakdown of a payee's account during a period - the "live" statement. Payee Summaries are available to view and audit by the admin as soon as a period is created via the Period Dashboard. Changing something that occurred during or prior to the period will automatically update the Payee Summary along with any subsequent summaries. 

Like transactions, summaries are unpublished by default- when you're ready to publish and payout, generate a statement.


Statements are the never-changing, carbon copy of a summary as it appears when you're ready to publish and payout. 

The statement acts as the reference for the payout. If anything changes in a payee's account for the period after the fact, the affected payee summaries will automatically update, but the statement will stay the same, so there is never a question as to how a payout was determined. Use the Compare to Payee Summary button along the top bar of any statement to see changes between the Payee Summary and corresponding Statement after the fact.

Statements are published by default, and the transactions the statement references are published simultaneously. 

Note! You can generate statements without notifying payees, but you can't generate statements without publishing the statement or the transactions. 

How to read the Payee Summary & Statement 

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

Income: Total income received for all releases, tracks, and items

Expenses: Total expenses incurred for all releases, tracks, and items

Net: Income less expenses

Payee Share Total: Total of the payee’s share of net for all releases, tracks, and items

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

Previous Payable: Total payable 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, starting with the Primary Ledger. 

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