Accounting Analytics Tool (Beta) now available

LabelEngine Accounting, Help, News, Updates

We are happy to let you guys know that the Accounting Analytics tool for our users is now live. If you are on Premium Distribution deal or are subscribed to our Accounting or Premium subscription you will now see the “Analytics” option listed in the “Accounts” dropdown menu! We understand Analytics are an essential part of running a record label …

Understanding Sales Estimates

LabelEngine Accounting, Help, Updates

Sales estimates are a great way to study the progress of your music and measure the success of it but why shouldn’t it be used for accounting purposes and why isn’t an actual indicative of income? Every month/quarter we receive several emails regarding this topic and the question is often “why doesn’t my estimates match my final report?”, although we …

Stats added to accounting section

DjLazyRich Accounting, Updates

We’ve added a few simple graphs to the accounting section for each release allowing you to see a breakdown of sales by territory, vendor, media type etc. We will be expanding this section over the coming months to add more detail and functionality. As usual, let us know if you have any questions. How to view them: 1) Click On …

Licensing Section Updated

DjLazyRich Accounting, Updates

For those with accounting or full subscription, as well as our distribution customers, our Licensing section has been updated to speed up the allocation of royalties from Licenses. From the Licensing page under Accounts you will be able to enter details of each 3rd party release that your tracks are included in – you are now able to enter the …

Royalty Streaming Categorization Added

DjLazyRich Accounting, Updates

We’ve updated the accounting system to distinguish between downloads and streaming sales, allowing you to provide more accurate data to your artists, and to specify different allocations for streaming sales. Splits now include the option of specifying whether they apply to downloads, streaming or both, meaning our accounts subscription customers can set pre-allocations for each to automatically handle each type …

Accounting Basics – Expenses

DjLazyRich Accounting Leave a Comment

The various costs incurred when putting out a release can quickly amount up to a large amount of money, not to mention all those pesky Label Engine subscription fees! The expenses section allows you to keep track of all these costs and fees and also pass on some of the expense to your artists if your label policy requires it. …

Accounting Basics – Allocating Royalties

DjLazyRich Accounting Leave a Comment

The allocation screen can be a little daunting when you first use it, however it really is very straightforward. When a lot of labels begin using their system they think that we will automatically be able to do their accounts for them, however this unfortunately is not the case and it can require a substantial investment of time get things …

Accounting Basics – Templates

DjLazyRich Accounting, Help Leave a Comment

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 …

Accounting Basics – Uploading Royalty Statements

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A royalty statement is a list of the royalties you have received from a store or your distributor that lists how many copies of each of your label’s tracks and releases have been sold, and how much money is due to you from each sale. As a label, it is your responsibility to calculate how much each individual artist is …

Accounting Basics – Artist Accounts

DjLazyRich Accounting Leave a Comment

The number one question we get asked at Label Engine in regards to accounting is “what is the ‘Accounts’ drop-down for”? To delve into the reasoning behind it, let me first explain two different accounting methods that labels commonly use for royalty allocations. The first system is on a per-track basis. For each track, the label agrees with the artist …