Product Alert:  Royalties logged for "Transfer" Returns

Posted September 16, 2011



It has recently come to our attention that negative royalties are being inappropriately logged for returns that have terms set to "Transfer".  Transfer returns should not result in any financial transactions being logged.  It turns out that this problem only occurs when you use the Recalculate Liabilities function for royalties.  The overall impact of the problem is to reduce your royalty liability.  You can verify whether you have this problem by looking at the detail version of the "Author Royalty Summary" report.  Check the returns in the report to verify whether any one of them has the terms set to "Transfer".



Version 5.1d addresses this problem.  If you find that this is a problem you have encountered, the remedy is to install the latest version of PubAssist, and run the Recalculate Liabilities function.  You'll want to use discretion when choosing the date range for the recalculation.  Remember, recalculating liabilities will re-write your liabilities history.  If your royalty contract has changed during the period in question, you may not want to run the Recalulate Liabilities function for the whole period.

This problem can also be resolved by revisiting Returns with terms set to "Transfer" and clicking on "Save and Reprocess".

We're sorry for any inconvenience this problem may have caused you.  As always, when a problem does arise, we do our best to correct it as soon as possible.