Record Label Accounting
|Royalty allocation can be used completed with our Pay As You Go package for 2% of royalties.|
Unlimited royalty allocation can be completed with an Accounting Subscription for $20.00 USD per month - sign up for an account.
Label Engine takes away the time consuming task of dealing with your label's royalty statements. Statements can be uploaded and royalties allocated automatically, allowing you to send out accurate and detailed royalty statements to your artists in minutes.
Label Engine is compatible with royalty statements from any store and any distributor, in any currency, in xls, xlsx, csv or txt format. Once uploaded, you can review the royalties that are included in the Statement, and edit or remove any that you don't want to be included.
If you have uploaded statements before or have created pre-allocations, your royalties will be matched against them using ISRC or UPC numbers, or the catalogue number, artist, track and mix name. If any matches are found, Label Engine will give you the option of using the same allocations that you had used previously, allowing you to deal with new statements in minutes. Alternatively, if you created pre-allocations these will be selected automatically.
If you have a profit-share agreement with any of your artists, you can allocate the money into a seperate account for them which you can choose to pay seperately. Royalties can be split by territory or store, allowing you to allocate royalties differently depending on where each track or release was bought.
Any number of royalty allocation templates can be created, allowing you to specify what proportion of royalties are automatically assigned to artists, remixers or the label, or to automatically allocate a share of the royalties to a company.
Sales and Expenses
Sales and expenses for your label can be entered and allocated to your artists and companies in the same way as royalties. Label Engine provides full analytics allowing you to measure the profitability of each release and view detaled balance sheets for each of your labels.
Statements, Fees and Advances
Detailed statements, fees and advances can easily be sent to all of your artists - each artist can be notified by email when their payment is ready and a csv spreadsheet containing all of their royalties will be attached. Artists are provided with a page detailing all royalties, sales and expenses for each label and for each seperate account you have created. They can easily enter their payment details and send an invoice to you and you will be alerted when it's time to make payment.
|Royalty Allocation||2% of Royalties||2% of Royalties||Unlimited||Unlimited||Unlimited|
|Sales and Expenses|
|Statements and Advances|
|"Label Engine has made calculating artists royalties an absolute breeze, especially with the ability to break down releases with remix splits which is a real plus in the EDM industry. All our artists love the sales reports we email them directly from the system. It is by far the best I have used hands down."|
|NEVER SAY DIE RECORDS|
|The invoicing system allows you to quickly prepare and send invoices for any royalties, sales or other items.
Track your unpaid items for each client - automatically generate a customisable PDF invoice in multiple currencies. You will be alerted once your client has downloaded the invoice.
|The license tracking system allows you to keep record of all 3rd party licensing deals for your tracks and releases.
To ensure royalties from your licensed tracks are received, reminders can be set up for each company, alerting you by email when its time to request payment.
|Customers with accounting or full subscriptions, or customers with a distribution package are able to take advantage of our royalty pre-allocation system.
Royalty allocations for each track or release can be entered while creating releases or taken from previous allocated royalties. Different 'splits', representing combinations of vendors and territories can be created and alternative royalty allocations set for each, meaning that payment deals when tracks are sub-licensed can be dealt with automatically.
When allocating royalties you can quickly search through and select from a list of all pre-allocated tracks and releases, meaning that allocations can be set in seconds and without needing knowledge of any prior royalty arrangements.
Pre-allocations will also be available when allocating sales and expenses, meaning you can quickly assign artwork or mastering costs to the correct artists or companies.
|"The simplicity and yet endless possibilities of Label Engine makes artist handling and accounting so much easier.|
A fantastic tool for record labels to optimize."
|NOIR MUSIC LABEL GROUP|
Some of our Accounting clients