Royalty Accounting Assistant

Yale University Press Royalty Processor

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Salary: $31.83

Job Requisition ID: 134729WD

Position Focus

Yale University Press (YUP) publishes more than 350 books per year by academic and other experts from around the world in various disciplines, including Art and Architecture, Political Science, Economics, International Relations & History. YUP royalty processing and payment, i.e. "accounting" is closely tied to the sales of books and other income, such as sales of rights linked to the publications, including Permissions and Translation rights. YUP negotiates royalty rates with authors, which are typically based on a percentage of the book's selling price or net receipts. Additionally, advances against royalties are common in YUP publishing contracts, where an author receives an upfront payment that is later offset by earned royalties. Other nuances in YUP publishing can arise from various formats (e.g., hardcover, paperback, e-book) and "owner", i.e. books acquired by London editors vs NH editor and distribution channels, including commission payments due for selling books owned by Museums or other third parties.

Principal Responsibilities

• Calculate and prepare royalties for payment in an accurate, complete and timely manner according to the terms of the contract between the payee/agent ("author") and YUP as follows:
• Retrieve, review and record royalty contracts between author and YUP in YUP's royalty system ("Royalty Tracker")
• Retrieve, review and record author advances into YUP's Title Management System ("TMM") and Royalty Tracker.
• Journalize movement of author advances from Unpublished to Published in Workday
• Retrieve, review and upload sales, rights and other misc. income linked to author royalty payments into Royalty Tracker ("royalty accrual baseline information")
• Process monthly royalty amounts to be paid from royalty accrual baseline information for New Haven and London authors and journalize into Workday
• Maintain all other author baseline information, including email address, banking information, physical address, payment status (i.e. on hold, for example), tax status and forms, estate and other relevant information for deceased authors etc.
• Provide timely response to ("customer service") for royalty-related inquiries from YUP editors and other staff as well as authors
• Prepare and process periodic royalty statements and payments to authors as required per the contract between author and YUP.
• Supports London Office royalty process – time varies depending on volume and time of year; expectation is to get back to London within a day.

Required Skills and Abilities

• Well-developed organizational skills, attention to detail, and the ability to manage multiple tasks efficiently in a high-volume environment.
• Strong understanding of general accounting principles and financial management, including journal entries, cost transfers, and reconciliations.
• Excellent written and verbal communication skills, with the ability to work effectively with diverse groups and provide high-level customer service.
• Demonstrated proficiency with computer applications, especially Excel, and financial reporting systems.
• Ability to exercise independent judgment, maintain strict confidentiality, and demonstrate initiative in problem-solving.

Preferred Education and Experience

• Bachelor's degree in Accounting, Finance, or a related field; experience with Workday, royalty systems e.g. Royalty Tracker and advanced Excel skills.
• Experience with university financial systems and knowledge of institutional financial policies and procedures.
• Strong analytical and problem-solving skills and experience with resolving royalty recipient queries.
• Prior experience in a higher education or publishing setting, providing financial reporting support to faculty, staff and authors.