Each rights holder has one or more financial journals, which are known as statements of account. These statements serve as key financial records, akin to bank statements, detailing the financial relationship between the rights holder and various title formats (ISBNs).
Key Features of the Statement of Account: #
- Royalties Allocation: Each time royalties are allocated to a rights holder during a royalty run, these amounts are recorded in the corresponding statement of account. This includes both credits (e.g., royalties earned) and debits (e.g., payments made to the rights holder).
- Financial Adjustments: Repayment of advances and other financial adjustments from earned royalties, are also documented within the statement of account. This ensures a comprehensive financial record for each title format (ISBN) that the rights holder is associated with.
- Closing Balance: Typically, at the end of a royalty run, the statement of account will show a closing balance of zero. This is because any accrued royalties have been used to generate a bill, which represents the payment owed to the rights holder.
How to View a Rights Holder’s Statement of Account: #
- Navigate to the rights holder’s details page (e.g. by using the search bar at the top of each page).
- Click the ‘Statement of Account‘ button.
- You will be presented with a list of title formats (ISBNs) for which the rights holder has ownership.
- Each title format will have its own individual statement of account.