Why does it take so long for iUniverse to post sales from Ingram or other retail bookstores?
All companies have a month-end close process to collect and validate financial information, and iUniverse is no exception. At the close of each month, iUniverse must collect sales and printing information from each of our business partners. We reconcile book orders and book sales with printing information to ensure that every single copy that is printed is accounted for. Then, we consolidate sales from many different sources into a single monthly statement for each author.
The process of collecting, consolidating, closing and posting sales information from our partners can take more than four weeks. It is important to remember that the sales statements are not final, however, because information posts to them as it is received. This process may take time, but we think it is essential to provide you with information that is 100 percent accurate and to account for each and every sale.
Although we strive to post sales statements as quickly as possible, four times per year it takes us up to 90 days to post statements due to our royalty payout schedule. During these quarterly payment periods, our staff is busy preparing quarterly statements and arranging individual royalty payments.