Recoupments
Manage costs and single incomes
Recoupments are expenses such as advance payments or marketing costs, as well as received payments without sales report, for example, fees received for synchronization approvals.
You can add recoupments so that the system includes them in license statements or simply to monitor the profitability of projects.
Recoupment Edit
General
Credit or Debit
First, you select whether the recoupment is an expense (Debit) or an income (Credit). Based on this selection, you then specify the recoupment type.
Type
The recoupment type also determines whether and to what extent the expense or revenue will later be allocated in license statements.
The following table lists all available recoupment types and their allocation:
| Debit/Credit | Name | Accounted |
|---|---|---|
| Debit | Miscellaneous | 100% |
| Debit | Advance (Label to Licensor) | Production % |
| Debit | Production | Production % |
| Debit | Mixing | Production % |
| Debit | Mastering | Production % |
| Debit | Remix | Production % |
| Debit | Video | Production % |
| Debit | Artwork | Production % |
| Debit | Manufacturing | Manufacturing % |
| Debit | Marketing | Promotion % |
| Debit | Promotion | Promotion % |
| Debit | Neighboring Rights (Label to Licensor) | Neighboring Rights % |
| Credit | Miscellaneous | 100% |
| Credit | Advance (Third Party to Label) | Third party % |
| Credit | Payoff (Third party to Label) | Third party % |
| Credit | Synchronization | Third party % |
| Credit | Neighboring Rights (Society to Label) | Neighboring Rights % |
Assignment
With the "Assignment" selection, you specify what the expense or revenue was for.
Examples
- Debits
- If a recording was mastered, select “Track” and then the recording in the database.
- If a sound recording was produced, select the product and the corresponding database entry.
- For a license advance paid to a partner, select:
- Contract if the advance payment is to be offset against future revenue shares within this contract
- Partner if it is to be offset against all contracts of this partner
- Credit
- If the amount for the use of the recording in a dubbing was paid by a partner, assign it to this track.
- Select a product if an advance payment for the sublicensing of a product was received. The system will automatically credit this payment proportionally according to the licensor agreements.
Purpose
The Purpose field should contain a brief description. This information will be included in the license statements.
Payer/Payee
With Payer/Payee you specify the payer or the income or the recipient of the payment, which will also be included in the license statements.
Date
The Date is the date of the payment receipt or disbursements but also determines the license billing period in which any potential recoupment will occur.
Accountable
If the recoupment should not to be considered as cross-accountable under any circumstances, this can be guaranteed by disabling Accountable. In this case, the Recoupment will be used exclusively for internal controlling purposes.