Royalty Accounting Guide
Best practices, definitions, processes
- How contracts work in IC
- Additional Transactions aka "additionals"
- Transfers
- Expenses vs. Transfers
- Expenses
- Best Way To Account for Income Collected by a Payee
- Why are my expenses being split? I need them recouped in full!
- Starting Balances
- Payee Share vs. Payee Balance
- How to handle fulfillment expenses
- How to handle when an artist collects income directly
- Accounting for Wire/Transfer Fees
- How to handle Bandcamp Fridays
- Breakage explained
- Accounting for payee out of pocket expenses
- Change, update, or escalate splits and contracts, without changing previous balances
- How do things like sales tax, shipping, or fulfillment fees get factored into royalty accounting?
- How to run Mechanical Reporting in HFA (Harry Fox Agency) Format
- Why are Mechanicals considered payable to a Payee while their Releases are unrecouped?
- How to account for Withholding Taxes in IC