To see what royalties are typically used for click here.
In order to create a royalty rate, we will first head to the Customize menu and click on the Royalty Builder.
Within the Royalty Builder page, you have the option to create new royalty rates or edit existing ones. *Royalties should only be created in the Corporate Hub accounts.
Creating a new Royalty Rate:
Click the Create New Royalty button.
Name your Royalty rate so that it is easily identifiable (ie. Net 10% Royalty).
New royalties will be enabled by default, but can be disabled at any time.
A description can be added for further context of how the royalty applies.
Select you Royalty Type (Gross Sales, Net Sales, Flat Rate, or Cash-based)
Gross Sales: Calculates % royalties on the gross revenue amounts before discounts.
Net Sales: Calculates % royalties on the net revenue amounts after discounts.
Flat Rate: Calculates a flat dollar $ amount royalty, regardless of sales amounts.
Cash: Calculates % royalties on accepted payment amounts (not includeing tax amounts)
Set a minimum $ dollar amount (if applicable - if minimum sales are not achieved, the minimum amount will be caluclated instead).
Select your royalty calculation period *(weekly, bi-weekly, monthly, quarterly, or yearly).
Select your royalty calculation start date *(start dates can be back-dated, and will calculate against past jobs/periods. Note - Significantly back-dated royalties will take time to populate past data on the roaylty report).
Editing Royalty Rates:
Editing your royalty rate allows you to apply rules for Exemptions, Inclusions, and Overrides. *Royalty types and Start Dates cannot be edited once a royalty is created*
What can be edited?
Royalty Name and Description
Enable / Disable - (The royalty will be collected so long as it is active. When the royalty is disabled, it will immediately stop collecting fees. Also, when re-enabled, it will not recover the fees it would have otherwise incurred while inactive.)
Royalty Value - (Changing the royalty % or $ will affect past/existing reporting calculations)
Mimimum Value
Apply to ALL Products (enabled by default)
>> When Enabled, you can select specific products to Exclude from the royalty calculation.
>> When Disabled, you can select specific products to Include in the royalty calculation.
Apply to ALL Locations (enabled by default)
>> When Enabled, you can select specific locations to Exclude from the royalty calculation.
>> When Disabled, you can select specific locations to Include in the royalty calculation.
Rate Overrides
>> Override the royalty rate for specific locations.
Please send us a chat if you have any questions about creating or editing your royalty rates.