Version: eXtendRoyalties 1.0.0 and above
Audience: User
Overview
The eXtendRoyalties bundle allows you to pay royalties directly to a Royalty Recipient for the purchase of royalty items. For the payment of royalties, you will initiate Customer Refund based on the generated royalty records which have been earned by the recipient. You can then pay royalties to the recipient using any of your available NetSuite Payment Methods.
User Flow
The first thing to do, is to configure your Item Records with Royalty configurations.
You do this by entering a Royalty Rate, Royalty Type Identifier (dollars or percent), and a Royalty Recipient on the applicable item records in NetSuite. By default, these fields are located on the eXtendRoyalties subtab.
Royalty Rate:
Specify the Royalty rate value based on Royalty Rate Type Identifier (e.g. 100, 50, .25, etc. for percentage-based Royalties, or dollar amounts (e.g. 0.98, 1.21, etc.) for dollar-based Royalties.
Royalty Type Identifier:
Specify whether the Royalty Rate would be fixed $ per unit or a %.
Royalty Recipient:
Specify the Royalty Recipient customer record.
eXtendRoyalty Transaction Records
eXtendRoyalty records can be generated on-demand using the Royalties Invoice Job Runner, or they can process automatically on a schedule. Contact your NetSuite Administrator for more information on the setup applied within your NetSuite account.
For triggering the Royalties Invoice Job Runner, navigate eXtendTech → eXtendRoyalties → Royalties Invoice Job Runner.
Select "Process Invoices for Royalties" option and click on submit button to initiate the job execution.
When the job runner initiates a status page will be displayed to show the status of the job runner execution process as shown in below screenshot:
When the processing is completed the status changes to "Complete".
After the job runner has finished processing, eXtendRoyalty records will be generated:
In this example, the "1100 Accounts Receivable" account is the A/R account, and "1050 First Community Bank VISA" is the income account. These values will have been specified in the eXtendRoyalties Setup page by your NetSuite Administrator.
Canceling Item Royalties at the Transaction level
If you don't want to generate a royalty for royalty items included on a particular transaction, you can remove it from the processing queue prior to the Job Runner or scheduler running by marking the "IS EXTENDTECH CANCEL ROYALTY" to checked/true on your transaction.
If enabled, the marked transaction will not be included during royalty processing.
Canceling Item Royalties at Transaction line level
If you don't want to generate royalty for only some royalty items included on a particular transaction, then you can remove those lines from the processing queue prior to the Job Runner or scheduler running by marking the "EXTEND CANCEL ROYALTY" line item column field to checked/true on your transaction.
Note: This feature was introduced in version 1.0.3.