SayPro Work closely with the Finance Team to track royalties 

SayPro Monthly February SCSPR-35
SayPro Monthly Print Media and Strategic Partnerships
By SayPro Print Media Strategic Partnerships Office

Core Purpose of SayPro Monthly February SCSPR-35:

A key aspect of SayPro Monthly February SCSPR-35 is fostering strong collaboration with internal teams, particularly with the Finance Team, to ensure that royalties from media and strategic partnerships are tracked accurately and payments are processed correctly. This collaboration ensures financial transparency, timely processing of payments, and proper accounting, which is essential for SayPro’s ongoing partnerships and revenue streams.

Key Objectives and Goals:

1. Tracking Royalties:
   • Work closely with the Finance Team to track all royalty agreements with media and strategic partners, ensuring that each agreement is properly logged and monitored for payment deadlines.
   • Maintain an organized and up-to-date royalty tracking system that allows both the Print Media and Finance teams to easily access and review information about royalty earnings, due dates, and payment terms.
   • Ensure that any changes or adjustments to royalty agreements (e.g., renegotiations, payment delays, or additional agreements) are updated in the tracking system and communicated to the Finance Team for accurate processing.
2. Processing Royalty Payments:
   • Collaborate with the Finance Team to process royalty payments according to the terms outlined in each partnership agreement.
   • Ensure that timely payments are made to partners, following all contractual obligations, and that any potential delays are communicated to the appropriate parties.
   • Review the accuracy of payment amounts, verifying that the correct percentage or fixed amount is calculated and paid according to the royalty agreement terms.
3. Ensuring Accurate Financial Reporting:
   • Work with the Finance Team to ensure that all royalty income is accurately reported in SayPro’s financial records and reflected in regular financial reports, ensuring proper documentation for auditing purposes.
   • Collaborate on reconciliation of royalty accounts, ensuring that all payments are matched with incoming revenue and that discrepancies are identified and resolved promptly.
   • Ensure that any changes in royalty income are properly documented and reported to senior management, with clear explanations of how the adjustments impact overall financial performance.
4. Ensuring Compliance and Accuracy:
   • Maintain strong internal controls in partnership with the Finance Team to ensure that all royalty payments and reporting processes comply with contractual agreements and financial regulations.
   • Ensure that the Finance Team is aware of any special terms or adjustments in royalty agreements (e.g., early termination, performance bonuses) that might affect the payment schedule or amount.
   • Keep track of royalty payment schedules and ensure that SayPro adheres to agreed timelines for making payments and receiving income.
5. Communication and Coordination with Partners:
   • Ensure that the Finance Team is aware of any changes in partner information (e.g., bank account details, contact updates) to facilitate accurate and timely royalty payments.
   • Coordinate with media and strategic partners to ensure that they have the proper documentation for royalty payments, including invoices, payment confirmations, and any supporting materials required by the Finance Team.
6. Auditing and Documentation:
   • Work with the Finance Team to maintain clear, organized records of all royalty agreements, payments, and adjustments for internal audits and external reporting purposes.
   • Support the Finance Team during audits, providing necessary documentation and explanations for royalty income and payments to ensure transparency and compliance.
7. Identifying and Resolving Payment Discrepancies:
   • Collaborate with the Finance Team to identify any discrepancies in royalty payments or income (e.g., missing payments, overpayments, or underpayments).
   • Work with media and strategic partners to resolve issues as quickly as possible, ensuring that all payments are made according to the terms of the partnership agreements and avoiding any delays.
8. Forecasting and Reporting:
   • Assist the Finance Team with forecasting future royalty income based on ongoing agreements, trends, and expected performance from media and strategic partnerships.
   • Provide the Finance Team with up-to-date reports on expected royalty payments, helping to project cash flow and inform broader financial planning.

Conclusion:

The collaboration between SayPro’s Print Media Team and Finance Team within SayPro Monthly February SCSPR-35 is essential for ensuring that royalties are accurately tracked, payments are processed timely, and financial reporting is precise. By working together, both teams ensure financial transparency, adherence to contractual obligations, and efficiency in managing royalties, thereby helping SayPro maintain strong, profitable partnerships and sound financial practices.