The royalty contract screen is where you create a contract and see a historical record of  royalty statements and payments.

Royalty Contracts General Tab

The terms tab is where you set the terms that apply to the royalty earnings.

Royalty contract terms

Fees and advances is where you enter a record of advance payments owed to authors.

Contract Advances

Statements tab is a listing of all statements issued under this contract. You can click the details button to see the related royalty statement.

Royalty statements