Note: This article outlines the steps and manual calculations for the previous Co-Pro settlement process using the CSV, but the updated feature will automatically calculate the math and amounts in Prism, and reflect them in the CSV export.
Generate the Settlement CSV
Click the button at the top of the Co-Pro summary to download a formatted CSV for further data analysis and editing.
The exported CSV Shows:
Co-Pro/Profit summary
Line items and totals for Additional Revenue included in the deal
Line items and totals for Expenses
Columns for your org and each partner to enter actuals in both sections
'Finals' section to calculate balances
Calculating Balances
1. Open the CSV and format the Revenue, Expenses, and Finals tables as the 'Currency' data type, then enter the revenue and expense actuals for each Co-Promoter in their respective columns. Sum each partner's revenue actuals to find their totals, then do the same for expenses.
2. Under the Finals section, calculate the Current Balance by subtracting each partner's total expenses from their total revenue. Current Balance will tell you how much each parter is up/down on the show based on how much revenue each collected and which expenses each paid for.
Current Balance = Total Revenue - Total Expenses
3. Calculate each partner's Balance Owed by subtracting the Current Balance from the Show Profit Split. The Balance Owed will tell you who owes what amount based on the amount each partner collected and spent. A negative value means a partner owes money, and a positive value means a partner is owed money. In the example below, Wembley Stadium owes Acme Promoters $238,309.75.
Balance Owed = Show Profit Split - Current Balance
4. Once the balances are calculated, send the spreadsheet to the Co-Promoter and save the CSV to the Files tab of the event for reference.