Contracts Money In
What is Contracts Money In?
A Contract (also known as "Agreement") is a physical or electronic document entered between an Organization and a third party, such as a Customer, a Supplier, a Partner, or a Rights-Holder.
In Reprtoir, a "Contracts Money In" is used when the Organization collects Royalties from their "Clients" (also known as "Customers" or "Payers") such as Distributors, Aggregators, Copyright and Neighboring Rights Collective Management Organizations, Production Companies, etc.
Important
"Contracts Money In" are mandatory only when an Income is added. That permits to associate the Payer to the Income for financial management purposes. You do not have to associate Contracts Money In with your Assets.
Contracts List
Where can find the Contracts Money In List?
To display the Contracts Money In list, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
The Contracts List displays several columns by default, including:
| Column Name | Instructions |
|---|---|
| Name | The Name of the Contract |
| Type | The Type of the Contract |
| Money Flow | The Money Flow of the Contract |
| Payer | The Payer the Contract |
| Payees | The Payees of the Contract |
| Start Date | The Start Date of the Contract |
| End Date | The End Date of the Contract |
| Creation Date | The Creation Date of the Contract |
You can add or remove additional columns using the optional Custom Columns feature.
Adding Contracts Money In Step by Step
There are two steps to adding a Contract with Royalty Splits:
◼ 1. Adding a Contract Money In
To add a Contract Money In, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
At the top right of the list, click on the orange "New Contract" button and select:
| Name | Definition |
|---|---|
| Label Contract - Money In | For a Contract that covers Audio/Videos Assets (Labels) |
| Publisher Contract - Money In | For a Contract that covers Works Assets (Publishers) |
| Other Contract - Money In | For a Contract that does not cover any Assets |
A pop-up window will open to enter the necessary data for the new Contract Money In:
Details Tab
This tab is for adding or removing information to the selected Contracts.
| Field | Instruction |
|---|---|
| Name * | Enter the Contract's Name (Mandatory) |
| Organization * | Select the Contract's Organization (Mandatory) |
| Payer (Contact/Company) * | Select the Contract's Payer (Contact/Company) (Mandatory) |
| Contributors | Select the Contract's Contributors |
| Territories * | Define the Contract's Territories (Mandatory) |
| Exclusivity * | Select the Contract's Exclusivity (Mandatory) |
| Start Date | Enter the Contract's Start Date |
| End Date | Enter the Contract's End Date |
| Resignation Notice | Define the Contract's Resignation Notice Duration in months or years |
| Auto-Renewal * | Select the Contract's Auto-Renewal (Mandatory) |
| Renewal Duration | Define the Contract's Renewal Duration in months or years |
| Balance Closing Frequency | Define the Contract's Balance Closing Frequency |
| Minimum Payout | Enter the Contract's Minimum Payout |
| Reference | Enter the Contract's Reference |
| Notes | Enter Notes for the Contract |
Tags Tab
| Field | Instruction |
|---|---|
| Custom Tags | Enter Custom Tags for the Contract |
Once filled in, click the orange "Save" button at the bottom right of the pop-up window to save the new Contract Money In. The new Contract Money In will be opened in a new panel and displayed in the "Contracts" list.
Click the grey "Cancel" button to cancel the action.
◼ 2. Adding Royalty Splits to the Money In Contract
Adding Royalty Splits to a Money In Contract is not mandatory. The system will not use these Royalty Splits to calculate Royalties.
To add Royalty Splits to the Money In Contract, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
In the list, find the Contract Money In to edit and click on its name. This will open the Contract Money In panel.
Under the Money In Contract title, click on the "Details" tab and then the "Terms" tab.
For each Royalty Split Type, define a Royalty Calculation Base and the Royalty Percentage Rate Base granted to the Payer by the Organization.
Royalty Splits view on a Track Details Pane
The royalty Percentage Rate Base is always based on 100% of the amount to earn or to pay. Therefore, when a Percentage Rate Base is applied to a Payer or a Payee, the remaining percentage is automatically applied to the Organization.
To save, click the orange "Save" button at the bottom right of the pop-up window.
Click the grey "Cancel" button to cancel the action.
Adding Contracts Money In in bulk with Spreadsheets
To add Contracts Money In in bulk, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
Click on the orange button "New Contract" and then hit "Import from a Spreadsheet" in the select list.
A pop-up window will open to enter the necessary data for the new Spreadsheet:
Details Tab
This tab is for adding or removing information to the selected Contracts.
| Field | Definition |
|---|---|
| Name * | Enter the Contract's Name (Mandatory) |
| Template * | Select a Contracts Money In Template (Mandatory) |
About Contracts Money Types
- Select "Label Contract - Money In" for a Contract that covers Recording Assets (Audio/Videos)
- Select "Publisher Contract - Money In" for a Contract that covers Publishing Assets (Works)
- Select "Other Contract - Money In" for a Contract that does not cover any Assets
Tags Tab
| Field | Instruction |
|---|---|
| Custom Tags | Enter Custom Tags for the Contract |
Once filled in, click the orange "Save" button at the bottom right of the pop-up window to save the new Contract Money In. The new Contract Money In will be opened in a new panel and displayed in the "Contracts" list.
Click the grey "Cancel" button to cancel the action.
To continue, follow the instructions on the Spreadsheets Importer page.
Editing a Contract Money In
To edit a Contract Money In, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
In the list, find the Contract Money In to edit and click on its name. This will open the Contract Money In panel.
Click on the "Edit" button at the top right of the list. This will open a pop-up window at the right of the Workspace to edit the Contract Money In metadata.
To save, click the orange "Save" button at the bottom right of the pop-up window.
Click the grey "Cancel" button to cancel the action.
Editing Contracts Money In in bulk
To edit Contracts Money In in bulk, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
Select one or more Contracts Money In in the list, right-click (or, when hovering over the Contracts Money In, click on the three dots on the right side), and then click on the "Edit" action in the opened contextual menu.
This will open a pop-up window at the right of the Workspace to mass edit the selected Contracts Money In' metadata. Please go to the Mass Edit article to learn more about this feature.
To save, click the orange "Save" button at the bottom right of the pop-up window.
Click the grey "Cancel" button to cancel the action.
Deleting a Contract Money In
To delete a Contract Money In, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
In the list, find the Contract Money In to edit and click on its name. This will open the Contract Money In panel.
Click on the arrow icon behind the "Edit" button at the top right of the list and click on "Delete".
This will open a pop-up browser alert at the top of the Workspace.
To stop the action, click the "Cancel" button.
Click on the "OK" button to confirm the deletion.
Deleting Contracts Money In in bulk
To delete Contracts Money In in bulk, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Legal" section, and click on the "Contracts" list.
Select one or more Contracts Money In in the list, right-click (or, when hovering over the Contracts Money In, click on the three dots on the right side), and then click on the "Delete" action in the opened contextual menu.
This will open a pop-up browser alert at the top of the Workspace.
To stop the action, click the "Cancel" button.
Click on the "OK" button to confirm the deletion.
FAQ
Why I cannot delete Contracts Money In?
If a Contract Money In is not deletable, it is probably due to one of the following reasons:
- there is used in an Income
- there is used in an Expense
You must remove these relationships before deleting the Contract Money In.
Be careful, this can generate complex deletion chains, mainly when royalty calculations have already been processed.
Updated over 1 year ago