What is Royalty Management
We designed Royalty Management to help companies manage even the most complicated contract situations, including streamlined contract management, royalty sales aggregation and processing, statement generation, royalty calculation, and payment processing.
Features and Functionality
- Handles an unlimited number of intellectual property codes, licenses, contracts, and royalty payees
- Creation of general ledger entries for accrual of royalties’ payables
- Produces detailed reporting statements that include all transactions for license accounting and tracking
- Manages various forms of royalties including sliding scale rates, effective dates, and guaranteed amounts
- Performs cash or accrual calculations per contract
- Royalty calculation owed is based upon actual orders or manually entered sales data
- Offers flexible calculations: flat fee, fixed amount, list price, net amount or combination
- Provides comprehensive reporting for audit
- Generates account payable vouchers
