https://brandon-r-brown.wistia.com/medias/8gc1usykd2

Monthly Royalty True-Up Process

Step 1: Export Monthly Financials

• After UniFi completes monthly financials, export the Profit and Loss (P&L) statement on a cash basis for the prior month.
• Identify and document the total cash revenue from the P&L.

Step 2: Identify Royalty Payments

• Locate and note the royalty payments (expenses) listed on the P&L statement for that same month.

Step 3: Update Royalty Tracker Sheet

• Input the total monthly cash revenue into the royalty tracker sheet.
• Input the corresponding monthly royalty payments into the tracker sheet.
• Ensure the tracker includes columns for:
  • Monthly Cash Revenue
  • Monthly Royalty Amount
  • Differences (if any)

Step 4: Reconcile Differences

• Reconcile and document any discrepancies between the calculated royalty amounts and the actual payments made.
• Clearly note explanations or reasons for any differences found.

Step 5: Prepare and Send Monthly Royalty Report

• Compose an email report titled “Royalty Audit and True-Up” for the prior month, addressed to Brent.