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What is a Rights-Holder Balance?
In Reprtoir, Rights-Holder Balances automatically shows the total of the amounts indicated in the Contract Balances list for each Contract, which can be debit or credit, as well as other important accounting status information.
Understanding Rights-Holder Balances
Definition of balance consolidation: Consolidation means that you are freezing the current overall balance of a right holder and that no new debits and credits will be able to influence that balance.
Let’s go over what these columns are and what they mean:
The Overall balance is the sum of all the right holder's debits and credits. In other words, it is the sum of all Incomes and Expenses associated with a right holder for a given accounting period.
The opening balance corresponds to any outstanding debits or credits present at the beginning of an accounting period.
The closing balance represents a snapshot of what the balance would look like if you were to consolidate and close it.
The consolidation date column shows you the last consolidation date.
The consolidation date column shows you the pre-defined consolidation date you have set for a right holder.
The Expenses column sums up all of the right holder’s expenses.
The incomes amount column sums up all of the right holder’s incomes.
Adding an Opening Balance
To add an Opening Balance, go to the navigation menu on the left, open the "Royalties Management" section and click on the "Balances" list. Then click on the orange button "New Initial Balance" located at the top right of the list. This will open a pop-up window to enter the metadata needed to add a new Opening Balances.
Choose the Organization
Right-Holder (Contact/Company) *
Select a Contact or a Company (or create it if not exist) for which you are creating this Opening Balance
Opening Balance *
This amount must be greater or lower than 0. Initial balances without Opening Balance are created automatically by the system when needed.
To record the new Opening Balance, click on the orange button "Save" located at the bottom right of the pop-up window. The new Opening Balance will then be immediately available in the "Balances" list. To stop the action, click on the grey "Cancel" button next to it.
Adding Opening Balances in bulk
We did not consider developing a tool to add Opening Balances in bulk to be necessary. If you need to delete Opening Balances, we can do it for you. Feel free to contact us using the Chat available at the bottom right of your screen in your Workspace, or by email at: [email protected]
Deleting Opening Balances
We did not consider developing a tool to delete Opening Balances to be necessary. If you need to delete Opening Balances, we can do it for you. Feel free to contact us using the Chat available at the bottom right of your screen in your Workspace, or by email at: [email protected]