How To Set Up a Third-Party Payee in Topspin

Topspin Enterprise users have the ability to configure third-party payees in their Topspin accounts. This feature allows them to automatically pay out a percentage of revenue to a third party every month. Third-party payments are helpful for artists who need to split particular streams of their revenue with a partner or pay an outside rights-holder like a record label. Here’s how to set up a third-party payee in Topspin:

First, the artist will need to download and fill out the official “Payments to Third Party” form attached here: PaymentsToThirdParty.pdf

The form is one just page, and requires basic identification and contact information for the artist and his/her desired payee. In the Product Name and ID field, make sure to match the product’s name exactly, letter-for-letter, and include the unique product ID for the product, which can be found at the top of the product edit page itself. Specify the exact dollar amount to be paid out per unit sold. The artist should then sign and date the form, and email it to [email protected]. After we’ve contacted the indicated payee and verified their payment information, they will be added to our list of official payees. Once the payee has been added to our official list, the artist is all set to configure a revenue split in the relevant product.

Navigate to the relevant product and enter the per-unit payout amount into the “wholesale cost” field, check the “Pay Wholesale Cost to Payee” box, and select the correct payee in the payee drop-down menu. Save the changes. Now, every time a unit of this CD is, the third party payee will automatically receive a split of the revenue via direct deposit.

Summary:

1. Download the official “payments to third party form” and fill out your revenue split information: PaymentsToThirdParty.pdf

2. Email the completed form to [email protected]

3. Topspin will add your payee to the official payee drop-down menu

4. Go into the product and configure the correct third party splits