How to calculate your 2015 monthly Amazon-based royalties
This was a gnarly problem earlier. Whether it was you alone closing your books at the end of the month or you had to calculate royalties for all of the authors in your publishing crew, it was a brainbuster to figure out where or how the Amazon outlets shared the good news.
It’s better now. It couldn’t be easier with Create Space, Amazon Advantage’s ordering process (which wants you to send them your 110%-worth books to sell at a 55% discount!) is about as confusing as one could devise, but tallying your monthly royalties (and sales) is simple enough now, and Kindle is somewhere in between.
All are slightly complicated by Kindle and Create Space’s overseas sales, with many of those purchases in strange currencies and no quick way to convert the conversion into US dollars. Plus the fact that the Kindle extra-US sales come in at odd times on separate checks. It matters because if you’re the publisher you must figure out how much your writer gets from the royalties, after you figure out what the royalties are worth!
OK, how to make the calculations?
Create Space first. They send you the tally sheet by email at the end of each month, lovingly itemized. The information sent tells which books were sold, the quantity, the number returned, and the royalty percentage sent. That will be paid to you two months hence, so you needn’t even check the web tallies. CS will also tell you by email before that money is in fact deposited 60 days hence, so just check that the totals are the same. Start your check up at www.createspace.com.
Amazon Advantage is reached at https://advantage.amazon.com. Sign in and find the “Amazon.com Advantage Sales Payment Summary” to see how the process works, with diagrams! Find the sales summary of each month. Payments are made at the end of each month for the previous month’s sales. If, say, $400 is listed in the total payments box, see the SHOW link in the line above, open it, and it will tell you that Author A earned $200 (broken down by his/her products sold), B earned $100, and C, the other $100.) By the time you see those specifics, the $400 will already be deposited in your bank—and you will have been informed that a payment is being deposited, by email.
Kindle is a bit labyrinthine but it’s findable. This is where Amazon sells your digital products. Go to https://kdp.amazon.com and sign in. Find the word “reports” in the top bar,, then open up “Prior Month’s Royalties.” (It opens on the bottom of the page, so scroll down.) The total and itemized breakdown will be listed two months back (if it’s May, look for March) since they pay 60 days later. Again, go down the country itemizations to see if you are a big seller in other markets. Those sales will be deposited separately–it seems at random . Kindle sends you a cryptic email telling you of every deposit soon to be made.
That’s what we do. It’s all kind of a pain unless your books are healthy sellers, but the money spends nonetheless. (One alternative is to sell the books yourself on the street corner. Of course you could do both!)
P.S. A very profitable way to sell books directly to the most interested and benefitted buyers (usually at 100% value) is to practice the gilded art of niche publishing. See my book Niche Publishing: Publish Profitably Every Time, or other, directly focused products at our order form.