Entering, Viewing and Deleting Simple Sales Entries in RoyaltyWorx

You can manually enter sales into RoyaltyWorx using the Simple Sales Entry tool if you have licensed your music to a third party, sold physical products or have made sales through your own website.

Select Royalty from the top menu then, select Simple Sales Entry

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Entering Simple Sales

After selecting Simple Sales Entry from the top menu, you will be presented with the below screen.

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1 - Licensee

Select the Licensee from the drop-down field, this is the entity who has provided you with the sales. 

Note - If you do not have any Licensees created then read this article - How do I create a New Licensee?

2 - Your Document Number

Specify Your Document Number if applicable. This would typically be your invoice number to the Licensee. This is purely for internal reference when using the Sales Reporting feature

3 - Sales Date

Specify the Sales Date as the date of the actual sale (Please do not specify today's date). Note that the system will look at this sales date when generating statements, so if your sales date is after the "Sales To" date when generating statements, this sale will not be included on your licensor statements. 

4 - Store

The Store field is optional but should be populated if you want to be able to run a Sales Report on specific stores.

5 - Sales Type

The Sales Type drop-down allows you to select a specific category of sales format that correlates to the Sales Formats listed on a Contract In.

When you select one of these options, you will see additional new options depending on which Sales Type you select.

From here, you will be able to select a specific format that corresponds to the rate set on your Contract In.

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6 - Quantity

Quantity is the number of sales that will be added. It will be used as a multiplier against the Unit value, so if you enter 5 here for example, then set the Unit Value to £10 per unit, the total value will equal £50.

7 - Unit Value

This is the value of a single unit. If you enter this amount with the quantity populated, it will calculate the total value.

8 - Total Sales Value

This is the total value of revenue to be added, if you enter the total, it will calculate the unit value. 

Note - You must enter the total value in your local currency depicted by the currency symbol next to the "Total Sales Value" field. If the statement that you receive is accounted in a different currency, the values entered must be converted. The following sum will help you get to the correct value -

  1. total amount received in your bank account / total foreign currency payment value = conversion rate
  2. sales value from statement * conversion rate = amount to enter

9 - Country

Here you should select the Country the sale was made in, if that information is available to you. It will be used when running Sales Reports or if you set up territory-specific deals on your Contract Ins.

10 - Notes

The Notes field is optional, it will display in the “Notes” section when running a sales report.

 

Adding Custom Sales Formats

Custom sales formats can be inputted through Simple Sales Entry & detailed in Advanced Mode on a Contract In. To add your own custom sales formats, simply head to:

Royalty > Maintenance - Sales Formats

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From here, press “New” & you will be greeted with the following screen.

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The format name is the name of the format & it will display on the statement. This should correlate to the sale type, for example, “USB”.

Contract detail type correlates to the tabs in the advanced mode of a Contract In. These different formats behave differently, so ensure it is categorised accordingly. If you add a new sales format, it will not automatically populate on your contracts in. You will need to add this to your contracts in manually and potentially change your templates if this sales format will be used frequently in your standard deals. 

Discs, Tracks & Duration are used to set parameters for a sales type. This helps keep physical products created through Simple Sales entry organised.

 

Simple Sales Entries FAQs

How Do I View My Simple Sales Entries?

You may wish to review your simple sales entries before committing to these sales. To do so, you can use the Sales Reporting tool. 

Royalty > Sales Reporting

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You can select what you would like to include in the report using a number of filters. You can be as specific or as vague as you need. The results will then be presented to you to review.

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How Do I Delete An Incorrect Simple Sales Entry?

When reviewing your Simple Sales Entries, you may notice an error in one of the inputs. This is easy to remove and can also be done within the Sales Reporting Screen. 

Simply click on the red cross on the right side of the simple sales entry. You will then be prompted to confirm your request to delete the sale.

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After clicking Yes, the system will then confirm that the sale has been deleted.

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