Royalty Management
MaxQ's Royalty Management automates the tedious steps required to post and/or pay royalties. Royalty Management seamlessly integrates with Microsoft Dynamics SL to manage even the most complicated contractual situations. Built to support virtually any type or size organization, it includes contract management, sales aggregation and processing, statement generation, royalty calculation and payment processing.
Features and Functionality
- Handles an unlimited number of intellectual property codes, licenses, contracts, and royalty payees
- Performs cash or accrual calculations per contract
- Royalty calculation owed is based upon actual orders or manually entered sales data
- Provides comprehensive auditable reporting
- Produces detailed reporting statements that include all transactions for licensor accounting and tracking
- Manages various forms of royalties including sliding scale rates, effective dates, and guaranteed amounts
- Generates account payable vouchers
- Offers flexible calculations: flat fee, fixed amount, list price, net amount or combination
- Creation of general ledger entries for accrual of royalties' payables
