Your sales data is already present in our system. The only task for you is to actually "receive" this data into your royalty database so you can then issue statements for these sales.
Why do I need to receive sales that are already in Label Worx?
Your statements from Label Worx are issued to you in GBP (Great British Pounds). You may wish to account to your Artists & Licensors in a different currency. If that is the case a currency conversion will need to take place. This happens when you "receive" your statement. Another scenario is that your bank or PayPal deduct money from the royalties that we send to you. When you "receive" your statement from Label Worx, you are required to enter the actual amount you received into your bank account. This means any charges or fees for payments are spread across all sales in your statement giving you a true amount that you actually received for each sale.
NOTE - You can only receive statements into your royalty database if you have received your royalties in your bank account. You should not be issuing statements to your Artists or Licensors if you have not been paid.
Complete the following steps to receive your Label Worx statements -
1. On your top menu click Statements
2. Under the "Royalty Post" column you will see linkes for "Receive ###"
NOTE - ### will be replaced by your invoice number. If you do not see "Receive ###" then you have not yet submitted an invoice for your royalties. To do this view this Knowledge Base article - How can I submit my invoice for download sales to Label Worx?.
3. Click "Receive ###" next to the statement you wish to "receive"
4. Enter the Amount Received in the currency specified by the symbol next to the field (this figure should be what you received in your bank).
NOTE - If you have invoiced for 2 or more statements, you will have received 1 payment for all statements included in this invoice. When receiving the royalties into the Royalty Worx system, you will have to click Receive on each statement individually, however when entering the amount you received, you enter the amount you received for the full invoice and not just that statement. The system will know how much was allocated to that individual statement.
For PAYG customers, the system will only deduct the amount from the royalty balance for the relevant statements you are receiving and not the full invoice amount.
5. Click the "Receive" button in the Top Icon menu
The sales from your Label Worx statement will not be transferred with currency conversion (if applicable) to your royalty database. One this is complete you will be able to view your sales from your "Royalty -> Sales Reporting" option.