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

Update/Review Actuals

  1. Update the Sold column in the Tickets table on the Revenue tab. If you are using a ticketing integration, your revenue will be calculated automatically based on ticket sales pulled in from your ticketing platform (assuming your integration has been setup).

  2. Update Actual Internal and Reported External costs on the Costs tab. Anything in the Reported External Column will appear on the External Settlement PDF. Anything in the Actual Internal column will appear on the Internal Settlement.

Preview a Settlement

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. Preview Simple generates a version of the Settlement that does not breakdown expenses or include a Show Summary.

Note: On the Settlement, you have the option to include a field in the Headliner Settlement table called "Total Artist Earnings." Total Artist Earnings is the Total Payout before any positive or negative adjustments. Contact clientsuccess@prism.fm if you would like to add that field to your settlements.

Move the Event to "In Settlement"

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 this "In Settlement" events on the Event List. You'll still be able to access the original offer via the three dot menu if needed.

Finalizing your Numbers and Settlement Terms

Need to increase or decrease your artist's walkout without impacting the split point? Use an adjustment to make any necessary bonuses or charges to the artists payout. Learn more about using adjustments 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 Talent tab, then "Settlement," then "Modify Terms."  

Internal Settlement

Once a show is moved into the Confirmed status, an Internal Settlement tab will appear. The Internal Settlement tab will track additional internal revenue and actual internal costs that are not presented on the external settlement. Note that this information can be downloaded as a spreadsheet (.csv) by clicking the "Download Spreadsheet" button.

If you have questions regarding the Internal Settlement Report calculations, please check out this example version with comments on each field detailing the calculation.

Confirm Settlement

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

If you have any questions, contact support@prism.fm!

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