Summary Name

The Summary Name blank is found on the upper right of the Set-up Screen.  You'll want to make sure you have a Summary Name entered.  It's used for listing purposes in the Report Generator, and without it, you won't be able to access your royalty holders.  Once you've entered a product's name, the program will automatically enter a Summary Name for you, but you should check the name and make sure it is correct.

A Summary Name should consist of the royalty holder's last name followed by the product name.  In this way when you pick from the report list, you'll be able to see the royalty holder's name and the associated product.  It's important to include both the royalty holder's name and the product since you may have the same royalty holder receiving royalties on several different products.

Note, if you make a change the product's name, you'll need to manually alter the Summary Name to reflect the change.

Social Security

Enter the royalty holder's Social Security number in this blank.  It's helpful to have the social security number on file since, at the end of the year, you'll need this information for tax reporting purposes.

Active

Keep this box checked as long you are actively issuing royalty checks to the individual.  When the product is discontinued, and you're no longer selling it, remove the checkmark.

Code

This is an optional field, but you can use this field to categorize or group your royalty reports (and statements).  The "Filter Reports" feature on the View Report Screen allows you to filter by a code and limit the display to only those reports to a certain code.  This may also be used if you are using an add-on feature which allows you to separate your business into two or more divisions or companies.

Other parts of the Set-up Screen include:

Menu Bar

Name, Address, and Phone Blanks

Email, Product, and Catalog Number Blanks

Summary Name, Social Security, Active, and Code

Keep Running Tally Box

Counting, Calculation and Structuring Methods

Options (Net and Profit Calculation Methods)

Vary Rate Based on Pricing Level

For more information on setting up a royalty with a Variable Structure:

Indicating the Number of Quantity Breakpoints

Indicating the Number of Discount Ranges

Entering Breakpoints & Royalty Rates for Variable Structure (Quantity)

Entering Discount Ranges & Royalty Rates for Variable Structure (Discount)

Entering Breakpoints, Ranges & Rates for Variable Structure (Quantity & Discount)