HOW TO GENERATE YOUR LICENSOR/ARTIST STATEMENTS
Within the LabelWorx LMS, select Royalty from the top menu. Then select Licensor Statements, followed by Generate Licensor Statements.
IMPORTANT - This article assumes that you have already set up your Releases, Licensors, Contracts In, and Inputted Sales. If you have not done these steps, please refer to the Knowledge Base for the relevant articles.
You will then arrive at the Generate Statements screen. If you have any Required Actions outstanding, they should be highlighted at this point and leading you in the right direction on how to solve those.
If your Required Actions are complete, the Generate Statements screen will give you the option to generate statements from a Single Contract or a Range of Contracts.
SINGLE CONTRACT
This process can be used to generate a statement for a particular contract.
Ensure the Single Contract tab is selected.
Select the relevant Contract In using the Select Contract search box.
The Contract To Date will filter out Contracts that are newer than the date you enter here. We recommend you set this date to 1 month prior to your Sales To Date below.
The Sales To Date should be the date you are accounting up to. (i.e. if you where accounting up to the end of Dec you would pick 31/12/2020).
Click the Run Statement button.
IMPORTANT - Please note, these are not "From/To" dates. It is not a date range that you are selecting here but Sales To and Contract To dates.
If you are just generating one Contract In, skip the Range of Contracts section below and continue this tutorial at Previewing & Running Your Statements.
RANGE OF CONTRACTS
Here you can generate statements for all of your Licensors or a range of contracts customised by Licensor, Reference and Category. You have the freedom to customise the range on a number of fields, so what you enter for each field depends on the end result you wish to achieve.
If you wish to generate statements for everything, then you would leave the fields as default and make sure you are just setting the Date To fields to your relevant accounting dates.
Ensure the Range of Contracts tab is selected
Select a Licensor: If you wish this range to be for a specific licensor only. Leave blank for All.
Select the Reference From: If you wish the range to be between specific references (releases) then you can select the starting point here. This is also useful if you have a large amount of Contract In to run, running them in batches will speed up statement generation.
Select the Reference To: If you wish the range to be between specific references (releases) as above then you can select the endpoint here.
Select a Category: If you wish to filter your range by category, you can do so in this field. This is useful if you have categorised your Contracts In, a use case for this may be categorising new and old contracts or creating categories for priority licensors.
The Contract To Date will filter out Contracts that are newer than the date you enter here. We recommend you set this date to 1 month prior to your Sales To Date below.
Set the Sales To Date to the date you are accounting up to. (i.e. if you where accounting up to the end of Dec you would pick 31/12/2020).
Click the Run Statement button.
IMPORTANT - Please note, these are not "From/To" dates. It is not a date range that you are selecting here but Sales and Contract To dates.
PREVIEWING & RUNNING YOUR STATEMENTS
After clicking the Run Statement button in either of the processes mentioned above, the system will create a preview of the statements that will be generated. If you are happy with these, please click the Commit button, located within the Icon Menu at the top right of the screen.
IMPORTANT - It is correct that the Statement Share value is blank on the Preview Screen
The system will then generate the statements and these will appear in your Licensor Statement Listing and be ready for you to check and email to your Licensor. We strongly urge you to download your statements and review them all to ensure that the figures are as expected.
During generation there is a progress bar, it is possible to navigate away form this page and return to check the progress. You will not be able to generate another batch until this one is complete.
Note: Before generating statements, we advise to turn off licensor invoice submission in the settings. When a statement is generated, the "Invoice Submission" screen will update with the newly generated statements. Sometimes a licensor may have bookmarked the link from previous statement runs. You can then reactivate the invoice submission screen before you're ready to send your statements.