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arkvalleyinfo
December 11, 2018
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How do I receive royalty payments as an author in Quickbooks?

  • December 11, 2018
  • 2 replies
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I'm an author and receive monthly royalty payments from several different companies (Amazon, Apple iBooks, Barnes and Noble, Lightning Source, etc.). I also receive affiliate payments from Amazon Associates from time to time. What is the step-by-step instructions on how to enter this into QB?

    Best answer by qbteachmt

    "create a service item named for the royalty payment and link it with an income account"

    By using an Item Named for the Book or royalty source, and using Qty, your reporting will help you see this activity. Sales by Item or Sales by Customer, for instance, because you have data with qty and "price" for each book and from each Sales Channel.


    2 replies

    qbteachmt
    qbteachmtAnswer
    December 11, 2018

    "create a service item named for the royalty payment and link it with an income account"

    By using an Item Named for the Book or royalty source, and using Qty, your reporting will help you see this activity. Sales by Item or Sales by Customer, for instance, because you have data with qty and "price" for each book and from each Sales Channel.


    A
    arkvalleyinfoAuthor
    December 11, 2018
    Thank you!
    Rustler
    Rustler
    December 11, 2018

    Create each as a customer

    create a service item named for the royalty payment and link it with an income account

    use that item on a sales receipt when you receive a payment from that customer, deposit to the bank

    A
    arkvalleyinfoAuthor
    December 11, 2018
    Thank you!
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