When it comes to accounting for royalties, financial controls can mean the difference between success and disaster.
MetaComet Systems’ 14 years of experience working with many of the world’s leading publishers has provided a unique perspective on the demands and challenges of royalty accounting. This experience translates into powerful financial controls to protect your business.
MetaComet understands the complexities of publishing royalties, which is why we developed an advanced set of accounting controls in our Royalty Tracker solution. These controls greatly reduce errors that can impact your bottom line and reputation, such as alienating authors and agents through underpayment, as well as the embarrassment and cost of overpaying them. The controls also improve your profitability, decrease legal risks, develop confidence and transparency within your company, and build trust with your partners.
In addition to Royalty Tracker’s numerous royalty management features, the accounting tools provide several advanced capabilities, including:
- Sarbanes-Oxley features for public companies.
- Support for the segregation of duties.
- The ability to require approvals on all financial-related transactions, such as contract terms.
- Password-protected, read-only month-end reports that provide an additional level of protection and privacy.
- Audit trail.
- Controls for handling payment errors.
- Controls over issuing credits.
Several internal and external auditing tools are also incorporated into Royalty Tracker’s accounting controls. These tools allow companies to reconcile the Royalty Tracker sub-ledger with their general ledgers for accruals and transactions. The ability to reconcile system integrations is another useful feature, and Royalty Tracker supports all control files to ensure complete and accurate integration. Auditing is also easy, as the product has the capacity to review changes to key financial data.
MetaComet’s latest release of Royalty Tracker Online includes all the latest accounting controls in each of the available modules.
For more information on Royalty Tracker and the latest suite of accounting tools
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