The SplitShare Recoupments feature in SymphonicMS allows you to recoup expenses from artists or other contributors before their royalties are paid out via SplitShare!
You can find this under SplitShare ► Recoupments.
To set up a recoupment, you'll complete the following steps:
- Create a name for the recoupment and add expenses to be recouped.
- Select which releases should have their royalties recouped. Please note that splits for all tracks on a release must be set to be added to the recoupment.
- Review the participants (artists, contributors) on those releases. Royalties from all participants' splits will be recouped.
Create a recoupment
The recoupment menu shows all existing recoupments for your account. To add a new recoupment, click the New Recoupment button in the top left corner.
This will open the Add New Recoupment page.
To create a recoupment, enter the following information:
- Recoupment Name. This is the name that identifies the recoupment within SymphonicMS. It can be any name you wish, but we recommend using a name that describes the recoupment.
- Expenses. You may enter multiple expenses that need to be recouped. For each expense, enter both a name and an amount. The total amount will be shown above all the expenses.
To add an expense, use the New Expense button to open an additional expense row. Use the trash can icon next to an expense to remove an expense.
Once the recoupment name and all expenses have been entered, click Save Recoupment to continue finalizing the recoupment.
Adding releases for recoupment
Once you have started a recoupment, you will be taken to the recoupment hub page to add releases.
When you add a release to a recoupment:
- All artist and other contributor royalties shares from the added releases will be directed to the recoupment expenses.
- Label shares are not subject to recoupment. They will continue to be paid out to the account that set up the recoupment as normal.
To add a release, select the Add Release button. This will open a drawer that shows the list of available releases.
All releases have a SplitShare status. The two statuses are:
- Complete. This indicates that the splits for all tracks on the release have been set.
- Incomplete. This indicates that at least one track on the release is missing splits.
Regardless of their status, releases can be added to the recoupment using the "+" icon in the Add Releases column. Releases with a Complete status will be added as soon as you press the button. You will be prompted to set the splits for incomplete tracks on the release. Splits must be set to add the release to the recoupment.
Once you have made your release selections, close the drawer to return to the recoupment hub page. Any selected releases will now be displayed on the Releases card.
The release card will have a status for the release. The statuses are:
- Pending. Any participant splits on the release have not yet begun recouping but will recoup in the next royalty period.
- Recouping. All participant splits on the release are currently being directed to the recoupment balance rather than being paid out to participants.
Review the participants
After adding releases, the Participant card will be populated. This shows any artist or other contributor that has a split on the release and is therefore impacted by the recoupment. Any participant shares will go towards the recoupment balance rather than being paid out.