Accounting Basics – Templates

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As your label grows, you will notice that you have more and more royalties to allocate each quarter. To speed up the allocation of royalties you can use Label Engine’s template system.

Templates are used to specify what percentage of an original track goes to the original artist(s), what percentage goes to other companies, and what percentage goes to the label. It also specifies what percentage of a remix goes to the original artist(s), what percentage goes to the remixer(s), what percentage goes to other companies and what percentage goes to the label.

When you allocate royalties, you will see the template dropdown at the bottom of the page. By default this contains a number of different templates that you can use. Try selecting each of these when allocating a royalty and you will see how the amount owed to each artist, remixer and company is updated to match the corresponding percentage. If you have multiple artists, remixers or companies, the percentage is divided equally among them. Any remainder is applied to the label.

You can create your own templates by visiting the templates section – enter in the amount the artist(s) receive for an original mix, how much they receive for a remix, and how much the remixer(s) receive for a remix. You can also select any companies that should also receive a share of royalties, for example if you have a label assistant that is paid on a percentage basis, or if you are a distributor and are assigning a share for yourself. Company shares can be assigned on a net or gross basis (gross meaning that other entities are assigned a percentage of the amount remaining after that company has taken its cut). You can choose to automatically specify a label that will be selected when the template is selected, however doing so will mean the template cannot be used when creating pre-allocations or distributing tracks.

In order to maintain data consistency, templates cannot be edited, instead please delete the template and create a new one. If a royalty is matched using a deleted template it will remain matched with it, however that template cannot be selected when doing further royalty allocations.

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