Easy Royalties works with Intuit’s QuickBooks accounting software to calculate royalties and generate statements.
You can export author (royalty recipient) and product information from QuickBooks and import this information into Easy Royalties.
Tip: If you assign a vendor type of author or royalty recipient to your vendors you can filter your vendor list to export only the authors (or royalty recipients).
Tip: Most book publishers add custom fields for list price, subject, format, royalty item and publication date to the item record.
Subject – to generate reports by subject area
Format – to show paper, hardcover, audiobook or digital
Royalty Item (Y/N) – to filter a sales file to show only royalty items
You can export sales from QuickBooks using their Sales by Item Detail report and import these sales into Easy Royalties.
Tip: Importing sales is easier if you use the price level option to assign discounts at a line item level. This means that each line item shows the discounted price. If you assign the invoice’ discount to a single line item at the bottom of the invoice you will need to modify your quickbooks export file to allocate the discount among the invoice’s line items.
Tip: You can create a custom QuickBooks invoice that has a column for the list price and a column for the discounted unit price if you define a field in the item record for the item’s list price.
You have the option to export payments owed to a file and then import this file into Quickbooks, using Transaction Pro Importer software from Bay State Consulting. You can also enter payables manually.