We’ve made a recent change to the format of your royalties invoice that hopefully makes it clearer for you all.
Instead of showing the royalty earned for each of our card formats (we have 100s of them!), the invoice will breakdown royalties for A4, A5 and A6 only – as you only ever receive a royalty on the card element (For example formats A5_WINE and A5_FLOWERS are both just royalties on an A5 card).
Your royalty rate will also be displayed in £ rather than %; for example if you earn 10.32% on a full price A5 card, this will now show as £0.30 on your invoice. For example, if an A5 card is sold at a 10% discount, the discount is reflected on the royalty received for that card too:
£3.49 (full price) – 20% VAT = £2.91 (net price)
£2.91 (net price) x 10.32% (royalty rate) = £0.30 (royalty amount)
This rate is pro-rated for discounted sales, as detailed on your monthly invoice. For example, if an A5 card is sold at a 10% discount, the discount is reflected on the royalty received for that card too:
£3.49 (full price) – 10% = £3.14 (price after discount)
£0.30 (full royalty) – 10% = £0.27 (royalty after discount)
Your new invoices will reflect this adjustment from the November payout.
Please note no changes have been made to current royalty rates; this is an amendment to the layout of the monthly invoice only.
If you have any questions please email us at email@example.com or drop us a DM on Instagram.