RoyaltyZone allows your licensees to report sales transactions in their actual sales currency and will convert each sale to the agreement base currency using either European Central Bank exchange rates (on the date you specify) or a fixed exchange rate that you set. This document will help you set up your currency conversion using fixed exchange rate(s) that you will enter into RZ. Currency conversion exchange rates can be set up when adding a new Agreement, or by editing an existing Agreement. Currency conversion setup on an existing Agreement does not require an amendment.
On your Agreement Details Page, select the Agreement base currency from the Currency dropdown box
Next, select the date you want RoyaltyZone to use to calculate the currency conversion from the dropdown box if a Licensee reports in a currency that you have not set up
1. First Day of Period (for Q1 2012, will use January 1, 2012 conversion rate)
2. Last Day of Period (for Q1 2012, will use March 31, 2012 con version rate)
3. Average over Period (will use the average conversion rate for the period reported)
For Exchange Rate, select "Use Fixed Rates" from the dropdown box
When using Fixed Rates, RoyaltyZone will always use these rates to convert sales reports input in foreign currency.
To begin adding your fixed rates, select "Add New Fixed Exchange Rate"
1. Select the Currency from the dropdown lists 2. Enter the Exchange Rate 3. Select "Submit"
You can add as many fixed rates as necessary
This example shows:
1. Agreement base currency is USD.
2. Uses fixed rates
3. Sales entered in Euro will be calculated at the rate of 1.3113
4. Sales entered in Great British Pound will be calculated at the rate of 1.5795
5. Sales entered in any currency other than USD, EUR or GBP will be converted at the average European Central Bank Rate for the period reported
Continue entering your Agreement Description and at the bottom of the page, select "Save"
You can edit your fixed rates at any time during the life of the Agreement, by accessing the Details Page of the Agreement
1. Edit or
2. Delete
and updating the fixed rate in the pop-up
You can add additional fixed rates after publication by selection "Actions" and "Edit"
Confidentiality Notice
This document may contain information of a confidential, proprietary and/or sensitive nature. This document and the information in it may not be reproduced or disclosed to any unauthorized users without the prior written permission of FilmTrack, Inc (here-to-forth known as ‘The Company’). Any unauthorized reproduction or disclosure of this document or the information contained in it is strictly prohibited. All authorized reproductions (either in whole or in part) shall bear this confidentiality notice.
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