Kindles Sales Import

A new Tech Note describes how to import the multi-currency Amazon Kindle KDP royalty report into Easy Royalties.

To do this in Easy Royalties you;

1. Go to your Amazon KDP (Kindle Direct Publishing) dashboard and download the royalty report (an Excel .xls file) for the month.

2. Scan the report for any foreign currency transactions and enter the exchange rates for these currencies in the Easy Royalties foreign exchange table located under the Options, settings & lists menu.

3. Then go to File > Imports > Amazon KDP to import your royalty file. This import requires V3.11.248 or above. Licensed users can download a free update from the Easy Royalties customer portal.

Royalty Cash Flow Forescasts

An important aspect of royalty accounting is forecasting future cash flow requirements. This includes forecasting when and how much cash is required to pay royalties due and royalty advances. These forecasts are revised each month, based on year to date results and updated information from stakeholders. [Read more…]

Royalty Accounting Book Review

Royalty Accounting; an Amazon Kindle publication, is a short guide to accounting for royalty expenses and income.

The first four chapters review accounting journal entries for the assets, liabilities, expenses, and income accounts.

This is followed by four chapters that cover how to report royalty expenses and income on financial statements, management reporting of royalty activity, tax reporting requirements and a review of key issues for auditors.

The book closes with an overview of best practices for royalty accounting and a chapter on royalty software selection.

The chapter on royalty software selection highlights the key criteria that many companies follow when selecting royalty software.  It closes with royalty software recommendations for various types of companies; small companies, mid-sized companies, large companies, music companies and companies that use Microsoft Dynamics financial management software.

The appendices include a listing of IRS tax forms for royalty reporting, a directory of royalty software vendors and instructions on how to configure QuickBooks for use with royalty software.

Royalty Accounting Balance Sheet Accounts

The general ledger balance accounts for royalty obligations usually include; [Read more…]

Royalty Accounting Expense Accounts

These are the four royalty expense accounts that track royalty expenses.

1. Royalty Expenses (consolidated). Many organizations have a single roll-up account that summarizes the balances of their royalty sub-accounts.

2. Royalty Expense. This account tracks royalty expenses. [Read more…]

Evaluating your Royalty Operations

How do you evaluate your royalty accounting operations? The ten questions we ask when looking at royalty operations are; [Read more…]

IT Best Practices for Small Publishers

royalty software how to

Companies running royalty software from a desktop should adopt the following five practices to protect their royalty software data files and the computer that it runs on. [Read more…]

Royalty Update 3.7.50

This update to the author royalty expense report allows users to print a summary report of royalty expenses without the line item detail. [Read more…]

Backup your Royalty Files

A publisher contacted us with a story of woe. Someone stole their computer, and they hadn’t backed up the files on it. [Read more…]

Penguin Royalty Statement

Have you ever wondered what a large publisher royalty statement looks like?

The author of Twilight fall; Lynn Viehl, posted an analysis of her first royalty statement for this book along with the actual royalty statement on a blog entry at .

If you look at the Penguin royalty accounting statement you see that it provides the author with a detailed analysis of how her earnings are calculated.

It also provides the author with a historical summary. The historical summary shows prior period earnings, current peiod earnings and activity to date.

Furthermore, look in the subsidiary rights section. There the Penguin statements lists each subsidiary right sale seperately.

Royalty accounting is made easy with clear royalty statments such as the statements provided by Penguin.