August 6, 2019
The issue with the Breakpoints has been resolved. You will see the royalty percentage for each title and format on the By Edition Report. The only way to automatically fix the problem was to go back to January 1, 2019. This left a positive beginning balance on reports without outstanding advances. It appears at the top of the Summary report. This amount will be paid with 2Q royalties, so the new system will be in balance.
Translations have become an established part of our production on a greater percentage of titles, so we’ve made a change in the new royalty system. All translations will now contribute to the cumulative calculation of Breakpoints by title. Authors will reach Breakpoints faster and earn more on both translated and English eBooks.
If the amount due at the bottom of your report is showing $0, the total royalty accrued is less than $25. The new system holds amounts under $25 until they accumulate to over that amount. We do realize that sometimes even a small amount is important, so an author can always email me and we’ll send the payment for the current amount due.
Here is why we are moving to a payment threshold of $25 for all our payments. Payments under that amount cost us more than the sale of the books we are paying royalties on. We have always paid the mailing, Paypal and ACH fees. Tipalti’s fees are actually lower than they were directly through Paypal and the bank because of the volume they do. For years it has cost us an average of $4000 to send royalties of less than $25. It is one of the places we are trying to better manage the cashflow of the company.
Three reports have been uploaded to the Box.com folders.
- Royalty Summary Report – this is the standard report that combines all formats by title and shows sales by retailer.
- By Edition Report – this report shows quantity and earnings for each format of a book (Audio, eBook, Paperback, Translations, Foreign Rights)
- Order Detail Report – this report breaks out every order paid during the time period. If there are no sales from a particular retailer, the order will not appear on your report.
If you have not received a Box.com or Tipalti invitation or are having trouble registering with either service, please contact Anne Regan.
Payments are starting this week through Tipalti. While we wait for the funding from the SBA to deposit, we continue to make payments as vendor payments are received
Questions about reports and payments, please contact Elizabeth North.
We are here and willing to discuss the current situation as well as future plans with authors. Our email addresses are below. Until this situation has been completely resolved, we will issue an update every Tuesday.
Elizabeth North, Chief Executive Officer,
Anne Regan, Chief Operations Officer
Lynn West, Publisher and Chief Development Officer
Questions about rights releases: email@example.com
This statement is not confidential. PDF available upon request.