QuickBooks

Our royalty software works with Intuit’s QuickBooks accounting software.

You can export authors, products and sales from QuickBooks and import this information into Easy Royalties.

You can also export royalty payments owed  from Easy Royalties to an Excel file and import these invoices into QuickBooks. To import vendor bills into QuickBooks you will need to use 3rd party software from www.baystateconsulting.com

1. Setting Up QuickBooks to work with Easy Royalties

To setup QuickBooks; or other royalty software, to work with Easy Royalties we recommend that you;

1. Code royalty vendors (i.e. agents and authors) as vendor type “Author” (“Artist” if you are a music publisher or stock art company). This will allow you to create an export file that contains only vendors which are paid royalties.

2. Add custom fields to your products for: Title Code (optional), Edition Format (i.e. paper, cloth, CD, eBook, etc.), Publication Date and Subject. Your product identification number will be the ISBN.

3. Confirm that your chart of account has accounts for 

  1. Royalty expense (expense account)
  2. Royalty advances (balance sheet – asset account),
  3. Unearned royalties (balance sheet – asset account),
  4. Accounts payable or Royalties payable (balance sheet – liability account),
  5. Royalties reserve if your royalty contracts allows you to withhold a reserve for future returns (balance sheet – liability account)

4. Create invoices using QuickBooks price levels to show the net price of a sale on each line item. This will ensure that your invoices can be imported by any royalty software solution. If you process sales using a discount line item Easy Royalties can handle this; however, most other royalty solutions can’t.

2. Importing Authors from QuickBooks

Download the Import Authors from QuickBooks Document

3. Importing Titles from QuickBooks

Read our blog entry on how to import QuickBooks Products into Easy Royalties

Summary: Each title record should contain;

  • Title Code (or title, the Title code is the same for all editions (formats) of this title)
  • Title (or title code, the Title is the same for all editions (formats) of this title
  • Edition Title: Cats and Dogs
  • ISBN
  • Edition Format: paper, ebook, hardcover

Example for a title advailabe in three editions:

Title Code: 101
Title: Cats and Dogs
Edition Title: Cats and Dogs
ISBN: 9781002224447
Edition Format: ebook

Title Code: 101
Title: Cats and Dogs
Edition Title: Cats and Dogs
ISBN: 9781002220001
Edition Format: Paperback

Title Code: 101
Title: Cats and Dogs
Edition Title: Cats and Dogs Audio Book
ISBN: 9782220001117709
Edition Format: Audio

4. Import Sales into QuickBooks

Read our blog entry on how to import sales into QuickBooks

Summary:  Export your Reports > Sales > Sales by Item Detail report to excel and save the file. After closing the excel file, import the file into Easy Royalties. You can tell Easy Royalties if your prices are net prices or gross with the discount showing on a seperate line item. If the prices are gross the discount will be automatically allocated across all items on that invoice.

 

Next, map your excel column headers to the corresponding field in Easy Royalties (or That’s Rights).

You can  tell the software skip over any blank or header rows during the import process.

Once, this is done Easy Royalties will import the sales file and generate a log file that will tell you which rows; if any, it could not import.