IMPORTANT - If you are entering sales from a Compilation please refer to this article - How do I add third party compilation sales into Royalty Worx?.
If you have sub licensed music to another label for release as part of a single or through another territory then this guide will explain how to enter those sales into your royalty database.
Only enter sales into Royalty Worx that you have been paid for. If you have not yet received payment you do not want to be paying these sales out to your Licensors just in case you never receive the money.
To enter Licensing sales complete the following -
1. Select "Royalty->Simple Sales Entry" from the Top menu
Default Simple Sales Entry Screen
2. Select the "Licensee" from the drop down field
Note - If you do not have any Licensees created then read this article - How do I create a New Licensee?.
3. Specify "Your Document Number" if applicable. This would typically be your invoice number to the Licensee.
4. Specify the "Sales Date" as the date of the actual sale (Please do not specify todays date)
5. Select the "Store" from the drop down list if applicable
6. Select "Licenses" for the "Sales Type" field
7. Select the title of the "License" from the drop down
Creating A New Physical Product
a. If the "License"is not listed click "Create New"
b. Enter the name of the "License"
e. Search for and select your "Track"
f. Click "Save"
8. Select the "Track" from the list
9. Enter 1 in the "Quantity" field
Note - When entering Licensing sales it is recommended that you enter a single total royalty value per track. This is why we ask you to put "1" in the Quantity field. This may mean summing multiple lines presented on the statement you received from the Licensing company. The reason for this is purely for simplicity and keeping the statements you issue to your Licensors cleaner and easier to read.
10. Enter the total value of sales in the "Total Sales Value" field
Note - You must enter the total value in your local currency depicted by the currency symbol next to the "Total Sales Value" field. If the statement that you receive is accounted in a different currency then the values entered but be converted. The following sum will help you get to the correct value -
a. total amount received in your bank account / total statement value = conversion rate
b. sales value from statement * conversion rate = amount to enter
11. The "Notes" field is optional
12. Click the "Save" button in the top right
This sales will now be entered into your Royalty database and will be available to view via "Royalty->Sales Reporting".