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Royalties Module for Visual Accountmate
This module was designed for businesses that need to track and pay royalties to either Artists, Writers , or Inventors. It allows you to specify in each item record the licensor, royalty percent, and a royalty cap( meaning that after you have paid up to that amount of money specified in the cap field the system will not calculate anymore royalties for that item).
Requirements
- Source code Ownership for AR and SO Modules.
- VAM LAN Ver 3.1+ or VAM SQL ver 4.0+
Once installed, your inventory maintenance screen will display additional fields for royalties:
We also provided a new licensor maintenance screen to maintain all information pertaining to the licensor such as: royalty rate, royalty cap, contract beginning and expiration and MTD & YTD totals:
Once all these information is setup, every time a Sales Order or an Invoice is created all the information for the Royalties will flow automatically into the required files allowing the creation of a Royalty Report:
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