Royalty Statements Income
What is a Royalty Statement Income?
In Reprtoir, a Royalty Statement Income designates a digital file that permits mass reporting music sales or rights revenues provided to the Organization by a Company, like a Distributor, an Aggregator, or a CMO.
To learn more about Incomes, visit the Incomes page.
Where can find the Royalty Statement Incomes List?
The Incomes from Royalty Statements are displayed in the Income List. To display them, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Transactions" section, and click on the "Incomes" list.
Ingesting a Royalty Statement (05:09)
We strongly advise you to start by watching the video below to get up and running quickly.
Royalty Statement Income Step-by-Step
Follow the process below to add and calculate a Royalty Statement:
- Adding a Royalty Statement Income
- Uploading a Royalty Statement File
- Mapping the Data
- Handling Amount Errors
- Handling Data Errors
- Review
- Summary
◼ 1. Adding a Royalty Statement Income
To add a Royalty Statement Income, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Transactions" section, and click on the "Incomes" list.
At the top right of the list, click the orange "New Income" button and select "Import from Statement File".
A pop-up window will open to enter the necessary data for the new Royalty Statement Income:
Details Tab
| Field | Instructions |
|---|---|
| Name * | Enter the Income's Name (Mandatory) |
| Statement Provider * | Select the Income's Statement Provider (Mandatory) |
| Label Contract — Money In * | Select the Income's Label Contract Money In (Mandatory) |
| Payment Date * | Enter the Income's Payment Date (Mandatory)—the date the Organization received the amount in its bank account. |
| Statement Currency * | Select the Income's Statement Currency (Mandatory) |
| Net Amount * | Select the income net amount (Mandatory), which is the amount the organization received in their bank account. |
| Foreign Net Amount | Select the income's foreign net amount. Only fill it in if the statement is in another currency. |
| Gross Amount | Select the Income's Gross Amount |
| Foreign Gross Amount | Select the income's foreign gross amount. Only fill it in if the statement is in another currency. |
| Notes | Enter Notes for the Income |
Processing a Royalty Statement with a Different Currency (02:57)
if your statement is in a currency different from that of your bank account or organization’s accounting, we strongly recommend starting by watching the video below to get up to speed quickly.
Tags Tab
| Fields | Instructions |
|---|---|
| Custom Tags | Enter Custom Tags for the Income |
Once filled in, to save the new Royalty Statement Income, click the orange "Save" button at the bottom right of the pop-up window. The new Income will be opened in a new panel and displayed in the "Incomes" list.
Click the grey "Cancel" button to cancel the action.
◼ 2. Uploading a Royalty Statement File
To upload a Royalty Statement File, go to the Royalty Statement Income panel, and drag and drop a Royalty Statement File from your computer desktop to the "Upload Statement" box at the bottom of the Panel.
The following File formats are supported:
| Format Name | File Extension | Developer |
|---|---|---|
| Comma-Separated Values | .csv | IBM |
| Text File | .txt | Unknown |
| Tabulations-Separated Values | .tsv | Microsoft |
| Excel Spreadsheet | .xlsx / .xls | Microsoft |
| CRD - Common Royalty Distribution | .version_number | CISAC |
At this step, the system performs a thorough check (type, encoding, etc.) to verify that the file is valid. If an abnormality is detected, the file is rejected.
In this case, please double-check that you have followed the instructions above.
When finished, the system goes automatically to the next step.
◼ 3. Mapping Data
In some cases such as CRD importation, the system handles this step automatically and proceeds to the next step.
This step permits the data mapping of the downloaded statement file with the Reprtoir's standard format so the system can process it correctly.
Although the system automatically maps the uploaded file in most cases, it is sometimes necessary to make manual adjustments.
At this step, the system will preview a list called "Statement Preview" of the first five rows of the uploaded Statement File, displayed in the Statement Provider format. The columns with light gray text indicate the columns already selected.
Below, there is another preview list called "Data Mapping" of the first five rows of the uploaded Statement File, which is displayed in "Reprtoir Standard Format". At this stage, the goal is to map as many Columns as possible before continuing to the next step.
Please follow these instructions carefully:
| Data | Instructions |
|---|---|
| Dates | For columns with dates, select the appropriate Date Format in the list |
| Numbers | For columns with numbers, select if decimals are separated by Comma or Dot |
| Gross & Net | Be very careful not to invert the Gross Amount and Net Amount (Gross Amount is always more significant than the Net Amount) |
You can refer to the Column statuses to visualize the progress of the mapping:
| Status | Instructions |
|---|---|
| Ready to be imported | The mapping for this column is done, and the data are ready to be imported |
| Must be mapped | The mapping for this column is mandatory and has not yet been done |
| Not mapped | The mapping for this column is not mandatory, but we strongly recommend that you do so if the data are available |
Be aware that this step is crucial. Before proceeding to the next step, take the necessary time to verify that the data mapping is correct.
Keep in mind that the final data to produce qualitative and robust Royalty Statements and Analytics are imported at this step. It is not possible to modify these data after this step.
When finished, click the orange "Confirm Mapping" button at the page's top right.
To restart the action, click the white "Restart Process" button next to it.
◼ 4. Handling Amount Errors
If no amount errors are detected, the system handles this step automatically and proceeds to the next step.
This step permits manual correction if the system detects errors in the net or gross amounts.
If it's an entry error, click the white "Edit Income Amount" button at the top right of the page, edit the Net Amount, and save. If it's a Royalty Statement file error, verify that you have mapped the correct column, and if so, contact the Royalty Statement provider.
◼ 5. Handling Data Errors
If no data errors are detected, the system handles this step automatically and proceeds to the next step.
If some Data are missing or unknown in the uploaded Royalty Statement File, this step permits their manual correction and formatting with the Reprtoir's standard format.
If the correction or formatting cannot be done immediately, it can be quarantined and processed later.
To follow the progress of these corrections, refer to the following statuses:
| Status | Details |
|---|---|
| To correct | The system detected an error |
| Corrected | The error was corrected, and the data is ready to be imported |
| Quarantined | The error is in the Quarantine |
Correcting / Formatting Data
Keep in mind that the final data to produce qualitative and robust Royalty Statements and Analytics are imported at this step. It is not possible to modify these data after this step.
When mandatory Data are unknown or missing in the imported file, the system allows for correcting them manually and automatically creates Standardization Rules.
Filtering by error type helps to simplify the correction and formatting process. To filter errors by type, click on an error type in the left sidebar.
To correct a Data error, right-click on the error to correct it in the list (or, when hovering over the Error, click on the three dots on the right side), and then click on the "Make Correction" action in the opened contextual menu.
This will open a pop-up window at the right of the Workspace to edit the Error.
Make corrections using the following instructions:
Correcting Errors
| Type | Instructions |
|---|---|
| Missing Asset | Add the Missing Asset, including their Identifier |
| Missing Royalty Split | Link a Contract to the Asset |
Formatting Data
| Type | Instructions |
|---|---|
| Unknown Sale Date | Enter a Sale Date |
| Missing Sale Date | Enter a Sale Date |
| Unknown Reporting Date | Enter a Reporting Date |
| Missing Reporting Date | Enter a Reporting Date |
| Unknown Sale Type | Select a Sale Type |
| Missing Sale Type | Select a Sale Type |
| Unknown Retailer | Enter a Retailer |
| Missing Retailer | Enter a Retailer |
| Unknown Country | Enter a Country |
| Missing Country | Enter a Country |
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.
During the calculation step, the system record automatically these corrections in the Standardisation Rules list to use them for the processing of future Royalty Statement files.
Put in Quarantine
The "Quarantine" feature allows excludes specific errors found in the Royalty Statement file that cannot be resolved immediately.
Thanks to Quarantine, the User's workflow is never blocked while allowing errors to be handled in Quarantine in the future, even after a Royalty Statement has been produced.
To understand how to manage quarantines, please go to the dedicated page.
When is done
Good to know
All errors must be in "Corrected" or "Quarantined" status to be able to go to the next step.
When done, go to the next step by clicking the orange button "Confirm Errors" at the bottom right of the page.
To restart the process, click the white "Restart Process" button next to it.
Don't be surprised if you are asked to correct newly detected errors when you think you are done. It is possible that by validating errors, the System will discover new ones. It is a very technical complex step.
◼ 6. Review
This step indicates the details of the treatment that will be carried out:
- Total Amount
- Total Lines
- Quarantined Lines
If this meets your expectations, click the orange button "Confirm" at the bottom right of the page. To return to the previous step, click the white "Back" button next to it.
This step may seem long as the System calculates and shares the Royalties. Please be patient. You can do something else while the system is running.
◼ 7. Summary
It's done! The System has finished calculating and returns a digest of what it did:
| Amounts | Lines |
|---|---|
| Total Amount | Total Lines |
| Processed Amount | Processed Lines |
| Quarantined Amount | Quarantined Lines |
If there are any Quarantined Errors that you want to process, click the white "Edit Quarantined Errors" button at the bottom right of the page.
The System will then return to step 4 to correct processing errors.
Editing a Royalty Statement Income
To edit a Royalty Statement Income, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Transactions" section, and click on the "Incomes" list.
Find the Royalty Statement Income to edit in the list and click on its name. This will open the Royalty Statement Income 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 Royalty Statement Income 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.
Only Name, Payment Date, and Notes can be edited on Royalty Statement Incomes. At this stage, if an error is detected, the Income must be deleted or reprocessed, depending on the use case.
Editing Royalty Statement Incomes in bulk
To edit Royalty Statement Incomes in bulk, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Transactions" section, and click on the "Incomes" list.
Select one or more Royalty Statement Incomes in the list, right-click (or, when hovering over the Royalty Statements, 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 Royalty Statements' metadata. Please visit 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.
Only Name, Payment Date, and Notes can be edited on Royalty Statement Incomes. At this stage, if an error is detected, the Income must be deleted or reprocessed, depending on the use case.
Deleting a Royalty Statement Income
To delete a Royalty Statement Income, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Transactions" section, and click on the "Incomes" list.
Find the Royalty Statement Income to delete from the list and click on its name. This will open the Royalty Statement Income 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 Royalty Statement Incomes in bulk
To delete Royalty Statement Incomes in bulk, go to the navigation menu at the left of the Workspace, click on the "Royalty Accounting" icon, browse to the "Transactions" section, and click on the "Incomes" list.
Select one or more Royalty Statement Incomes in the list, right-click (or, when hovering over the Royalty Statements, 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.
Updated 4 months ago