To collect your label's royalties, you must submit an invoice from the Statement listing screen in our system. Please note that you can only submit an invoice if the amount owed to you is greater than the minimum payout amount that is detailed in Exhibit A of your distribution contract.
How do I submit an invoice?
- Click Statements on the top menu.
- Under the 'Status' column, click Submit Invoice next to the relevant statement.
- Enter 'Your Invoice Number' in the top left (this is for your own internal records and should be a unique number for this particular invoice. If you do not currently have an invoice numbering system, then start with, for example, '001').
- Select your desired payment method at the bottom and enter the requested details.
- Click Submit.
Once you have submitted your invoice, the 'Status' will change from 'Submit Invoice' to 'Invoice Received'. Our accounting department will then process your royalty payment during the next payment run (this is typically within 1 week, although our agreement allows for up to 30 days). Once processed by our accounting department, the 'Status' will change from 'Invoice Received' to 'Paid'.
When will I receive the money?
Once the statement is marked as 'Paid', it can take anywhere between 1 day to 4 weeks to come through to you from the payment processors, depending on the payment method you chose:
- PayPal is usually within a few days, but can be up to 30 days in extreme circumstances if PayPal hold the money.
- IBAN / International Bank Transfer is handled by Wise, who will send a secure link to the email address you have provided, allowing you to provide your bank details. If you are already using Wise, they will attempt to find your account details. Please note that if you do not accept the email transfer within 1 week, the money will be refunded back to LabelWorx. If the money is refunded, it may take another 7 days to appear back in our account before we can reprocess the payment.
- UK Bank Transfer is usually within a few days, if not within a week.
- Cheque is usually around 4 weeks, depending on the postal service and country it is sent to.