This page refers to details for Contributor contracts. For Syndication contracts refer to Syndication contracts components.
Contract fees are entered and reviewed using the Fees tab which is displayed in a popup window.
Contract fees can be structured a few ways, but the most common is Gross fee where an total fee is agreed with the contributor and this is paid in equal amounts over the contract period.
Entering Fees
In the Total fee field enter the agreed fee for the contracted period. The Usual payee will default to the Agent if there is one, this can be changed by clicking on the field and selecting from a list of values.
Choose the payment frequency and then the transactions can be scheduled accordingly over the contracted period. If "lump sum" is selected then a payment instruction for the whole fee is sent on the first day of the contract period.
Most contracts are paid in arrears. For monthly payments each payment instruction is scheduled for the last Tuesday of every month (this is so that the transaction will reach Accounts Payable (AP) prior to their weekly payment run) or if the last Tuesday falls on the last day of the month then the transactions will be scheduled for the previous Tuesday. Payments in advance will be scheduled to be sent to AP at the beginning of the period (e.g. the 1st of the month or quarter)
"Specific day" can selected in order to send payment instructions to AP on a specific day of the month (0-28)
If the fee structure represents a pay per use arrangement then select the Space rates or the pay lineage option.
The standard rates for lineage and space rates (stock imagery) are listed here: http://www.theguardian.com/info/guardian-news-media-freelance-charter#Fees
Entering a Fee split
When a new contract is created, by default the total fee is allocated to the principal cost centre. However, the fee for the contract can be split between more than one cost code combination.
To create a new split, scroll to a new record and enter the chart of account codes and then share the fee accordingly. The total of the Fee splits must add up to the total contract fee. The Rate from the Fee tab will be inserted into Fee split rate, which can then be updated as necessary.
A description can be entered and this will be used on each payment instruction. If left blank then the payment description on the Fees tab is used on the payment instructions.
The user can use the “Generate trx for next period” button to create a set of payment instructions for the next chronological period for the contract (i.e. the next month or quarter).
Previous contract
The lower half of the screen shows the fee split for the previous contract with this supplier.
Updating transactions
The Transactions tab list all the individual payment instructions that have been scheduled for the contract.
Where the transaction has not been sent to AP yet the details can still be modified.
When the Hold? checkbox has been ticked the payment will be postponed from being sent to AP. If a payment instruction needs to be cancelled tick the Cancel? checkbox.
Contract owners
To add to the list of 'Owners' for the contract click on the next empty field under Name and select a person from the list (the list is the existing users on RCS). If the person you are looking for is not on the list then contact the Rights department.
When the contract is soon due for renewal an email is sent to the owners. To stop these reminders from being sent tick the Reminder(s) acknowledged box next to the relevant name.
If the Performance alerts box is checked then the relevant person will receive the contract usage details via email. For more details see Contract Monitoring