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    Set Up a Carryover
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      Set Up a Carryover

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        Article summary

        This article explains how to carry over an artist balance (negative or postive) from a previous royalty statement completed before you switched to using eddy.app.

        What Is a Carryover?

        The carryover feature allows you to bring in an outstanding artist balance (either negative or positive) from the previous royalty accounting period.

        The most common example of this would be an unrecouped amount from the last accounting period that needs to be taken into account on future statements generated through eddy.app.

        New costs/advances to recoup on future statements must be added in the Costs and Advances section.

        Configure a Carryover

        Go to Contracts > Carryover.

        1. Add the carryover description.

        Describe what the carryover refers to (e.g. H2 2020 unrecouped carryover).

        Note that the carryover description will appear on the payee statement.

        1. Specify the carryover amount.

        Specify the carryover amount, i.e. the amount owed to or by the artists after any contractual rate splits or taxes.

        • For monies that need to be recouped from the artist income, add the amount as a negative number, i.e. $-1000.
        • For monies owed to the artist, add the amount as a positive number, i.e. $1000.
        Important
        • You can only add one carryover per contract.
        • Carryovers (both positive and negative) are only applied to statements once the contract is fully recouped (i.e. in positive).
        • Positive carryovers will not contribute to recoupment.

        If applied to a contract that has multiple payees, the carryover will be shared amongst payees based on their individual split (as specified in the Right Holder - Payee section).

        1. Click Save and you're good to go!
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