From the moment an event is confirmed, you can start entering in actual revenue and cost figures into Prism to start the settlement process.

You can preview your artist settlement doc at any time, post-confirmation. When a show is Confirmed, you will be able to preview the settlement by going to the three dot menu next to the green "Offer" button, then "Settlement", then select either Preview or Preview (Simple). The simplified settlement is a pared-down version of the document that does not include event expenses the Show Summary section.

Note that if a deposit exists on the deal, the external Settlement PDF will automatically factor the deposit amount into the remaining artist payout, dependent on the Deposit's status and 'Paid Amount' in the Payment Tracker.

Once you're ready to truly start settling, change the event status to "In Settlement" using the drop down in the top right corner of the event. Doing so will change the green "Offer" button to a "Settlement" preview button and enable you to filter events that are "In Settlement" on your Prism Event List. The original offer can be generated at any time via the three dot menu, if needed.

Need to increase or decrease the artist's walkout for a buyout, VIP lift, flat bonus, or rental? Use an adjustment to make any necessary bonuses or charges to the artist(s) payout. Learn more about using adjustments here. 

You may also want to include Additional Revenue in the Net Gross to split with the artist for dynamic pricing lifts. Learn more about Additional Revenue Included in Net Gross here.

Prism also now has a Tax Withholdings feature if you ever need to deduct a certain amount from the artist payout. Learn more about Tax Withholdings here.

You also have the ability to add Settlement Terms by selecting the three-dot menu next to the green Offer/Settlement button on the Deals tab, then "Settlement," then "Modify Terms."  These terms can be added as templates in your organization settings to be reused, as needed.

Note: The ‘Variance’ column in the expenses section of Prism Settlements can be optionally hidden. Reach out to your Customer Success Manager or email clientsuccess@prism.fm if you would like to remove this column on all Settlement documents in your account.

The Internal Settlement tab shows the Net Profit of the show based on internal revenue and costs so it may be different than what is present on the external settlement. Toggle between Estimated and Actuals to compare how the show performed against your estimates. Note that this information can be downloaded as a spreadsheet (.csv) by clicking the "Download Spreadsheet" button.

When all updates to the settlement are added to Prism, change the status to "Settled" in the top right dropdown on the Event. This will freeze all show data to prevent users from making changes. An administrator will be able to "Edit Final Settlement" if needed.