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Author Royalty
Author royalty is a percentage of the revenue earned by a publisher from the sale of a book that is paid to the author as compensation for their work. A significant advantage of Ink of Knowledge is its low production and distribution costs, which ultimately is beneficial to authors in order to maximize their earnings.
A book's profit is calculated by subtracting its MRP from its expenses incurred during production and distribution.
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A book's profit is calculated by subtracting its MRP from its expenses incurred during production and distribution.
Ink of Knowledge Platform offers writers 70% of the net profits from the sale of Print book and 100% of the net profit from the sale of eBook.
Terminology
Book Production Cost: The cost of producing a book includes the cost of paper, ink, and binding materials as well as labor costs for printing and binding.
Book Distribution Cost: Book distribution cost refers to the expenses incurred for packaging, and shipping physical books. Ebook distribution cost refers to the expenses incurred for formatting, conversion, distribution, and marketing of digital books.
Net Profit: Revenue remaining after Print Cost and Distribution Fees.
Dashboard
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1. Minimum Selling Price (Min.): The minimum price is the lowest possible price at which an author is willing to sell their book, taking into consideration factors such as production costs, distribution costs, and profit margins.
2. List Price: The List is the higher possible price at which author is willing to sell their book, taking into consideration factor such as book content, Book genre and market demand. The list price is usually higher than the minimum selling price. To ensure you earn revenue for sales, the list price cannot be less than the minimum price. In order to increase his book's selling price, the author may increase the Minimum Selling Price (MSP).
3. Author Royalty: Author Royalty is calculated based on the MSP of the book and the percentage of royalty set by the publisher.
4. Author Price: The Author Price is a discounted price offered for the purchase of an author copy. There is no limit to the number of copies that may be purchased. It is important to note that the author will not receive a royalty for a discounted price.
5. Indian Price: Indian book prices also include the cost of shipping, distributing and storing the finished product, as well as any royalties paid to the author.
6. International Price: International book prices, on the other hand, only include the cost of the book itself, as well as any royalties paid to the author. This is because international shipping, distribution and storage costs are often much higher than those associated with books sold in India.
7. IOK Store: The author earns a royalty when a customer purchases a book through www.inkofknowledge.com. Due to the fact that there are no distribution charges, this earning is always high.
8. Other store: The author earns a royalty when a customer purchases a book through any e-commerce store other than www.inkofknowledge.com.
You may notice that your ebook revenue amounts change based on the retail sites you select to distribute your book. That is because some retailers (Lulu, Apple, and Barnes & Noble) act as sales agents meaning they sell your ebook at the price you set then take a commission based on that price. Other retailers (Amazon, Kobo) operate as resellers. This means they pay the wholesale price to a distributor when your ebook sells. Since these retailers are buying your book from a middleman at a set price, they can resell your ebook at any price they like, including a discounted price.
How do author withdraw royalties?
Ink of Knowledge pays author royalty directly into a PayPal account ((International Author Payment-USD Only)or NEFT (Indian Author Payment-INR Only), as defined in the Account section of your Dashboard.
NOTE: Depending on the type of PayPal account you have, PayPal may deduct a service charge for disbursing your Author Royalty. PayPal determines this fee. Ink of Knowledge has no control over these fees.
How can I set my preferred method of payment?
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Sign into your inkofknowledge.com account
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Navigate to My Account and click..
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Select the method of payment and enter the payee information.
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Click Save changes & Verify with OTP.
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Click Submit.
NOTE: Changes to your remittance information may delay payment of Author Royalty.
What is the process for changing payee information for an author?
Payee information can be added and updated whenever you wish.
To edit your payee information:
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Sign into your inkofknowledge.com account
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Navigate to My Account and click.
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Scroll down to Payees and click the Edit button to make your desired changes to the existing payee.
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Click Submit once you have finished and then click Save changes & Verify with OTP.
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Click Submit.
NOTE: Changing the payee information after raising a withdrawal request is not recommended.
Can I delete a payee?
Unfortunately, a payee cannot be deleted once created.
When will I get paid?
Profits from Print Book Sales:
Indian author
As soon as orders are confirmed and determined for each month, all print books sold via Indian eCommerce sites are reported on your Author Dashboard. Each month's earnings are paid out within 30 days of the end of the month the sales are reported. For example, all sales for January are paid to you by 15th of February. Royalties are normally paid on the 15th of each month.
International author
Your author dashboard updates every 90 days with profits from international print book sales after accounting for taxes and returns on the book in every geography where it is sold. Payouts for each month are made the following month. You will receive your profits from January on the 15th of May after all international sales in January are reflected on your dashboard in April.
Profits from eBook sales:
eBooks are sold across the globe. Your dashboard is updated every 90 days with eBook sales across retailers and geographies. Earnings for each month are paid to you the following month. You are paid on the 15th of May for all eBook sales in January, which are reflected on your dashboard in April.
Royalty Transfer
Royalties will be automatically transferred and credited to your account (PayPal account ((International Author Payment-USD Only)or NEFT (Indian Author Payment-INR Only) on the 15th of every month.
NOTE: Depending on the type of PayPal account you have, PayPal may deduct a service charge for disbursing your Author Royalty. PayPal determines this fee. Ink of Knowledge has no control over these fees.