Royalty Payments & Settlement Report

Modified on Wed, 22 Jan at 3:12 PM

The Royalty Payments & Settlement Report illustrates the total amount of royalty fees transferred from the franchisee's (child) bank accounts to the franchisor's (parent) bank account.

Things to know:

This report is only displayed if the royalty setting is enabled
The report can be accessed at both the parent and child levels. However, at the child level, access is restricted to the location owner and location manager only.
If the royalty fee is set to commence on October 1st with a fee frequency of one week, the initial transfer will occur at the end of October 8th. This transfer encompasses all fees calculated from October 1st to October 7th.
If the settlement fails, an email with the subject "Urgent - ACH Withdrawal for Royalty Failed" will be sent to both the parent and child account owners. The system will retry the settlement once per day, up to a maximum of 14 days.

To access your Royalty Payments & Settlement report:

Navigate to Dashboard > Reports
Select "Royalty Payments & Settlement" located under the company heading.

You also have the ability to export to Excel, PDF, or print.

Once you have selected your date range, click on the UPDATE button to generate the desired data.

Report Columns

Column	Description
START DATE	The start date of the pay frequency
END DATE	The end date of the pay frequency or the date the settlement was run
BANK ACCOUNT	The last four digits of the account number and the total number of associated locations.
ITEM FEES	The total fees calculated for "per item" royalty fees
FLAT FEES	The total fees calculated for "flat fee" royalty fees
ACH AMOUNT	The combined calculation of both the item fee amount and the flat fee amount, or whichever of the two is applicable.
ACH FEE	Displays the ACH fee that was charged for the transfer of the royalty fees
ACH DATE	Displays the date the ACH was successfully charged. The date will only appear here if the transaction was successful
ACH STATUS	Displays the status of the royalty fee transfer Succeed: The transfer was successfully completed Pending: The transfer is not yet processed Declined: The transfer was unsuccessful due to insufficient funds, etc.
ACH ATTEMPT DATE	The date the settlement was attempted will be displayed in this column. If the transaction is declined or remains pending, the date will stay in this column. Once the transaction is successful, it will move to the ACH Date column.
ACH ERROR	The error message received when the transaction declines

For more information, contact us at support@mytime.com.

Related Articles:

Royalty Configuration

Configuring Bank Account for Royalty Fee Collection

Royalty Fee Report