As a full-service licensing agency, Affinity handles the royalty collection for all our clients' licensing programs. For new vendors, we take care to explain the key elements of a successful report:

• Each quarter, licensed vendors are required to submit a royalty report including per transaction detail of sales containing our client's marks.

• To submit this report, vendors are welcome to use the PDF or Excel template we provide (available for download through your “royalties” page on greeklicensing.com) or they can use their own Excel spreadsheet or QuickBooks export.

Affinity's accounting and auditing department is dedicated to reviewing royalty reports each quarter. They examine each report to ensure royalties are calculated correctly, a report for each organization is submitted, and all required detail is represented. To submit an accurate report, vendors should be sure to include the following detail: 


• Customer name for individual sales or University name for group sales

• Payment date

• Invoice number (if applicable)

• Detailed product description, quantity, price per unit and total gross sales (you can find the definition of gross sales in Section 6 of each signed license agreement)
  

If you have any questions regarding royalty reports, please don't hesitate to contact our accounting department.