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I've had book sales from I-books, Sony and Kobo reported on Smashwords since February.  When can I expect to get paid?  

Smashwords is ridiculous if you ask me.  The day I can submit my books directly to all the other e-book vendors will be the day I say goodbye to Smashwords.  
 

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Smashwords pays quarterly. I'm not sure what their minimum is, but I've been on their site since October of last year and have not received a check...
 

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They pay quarterly and have a delay for third-party sales, because they have to wait until the other store pays them. The quarters end March 31, June 30, September 30, December 31.

If I recall correctly, it's a $70 minimum if you want a check, but the threshold is lower if you're fine with Paypal. I don't remember the Paypal threshold.

Anyway, your sales dating back to February should be included in the next payment, in July, assuming you've met the threshold.
 

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Amanda Brice said:
They pay quarterly and have a delay for third-party sales, because they have to wait until the other store pays them. The quarters end March 31, June 30, September 30, December 31.

If I recall correctly, it's a $70 minimum if you want a check, but the threshold is lower if you're fine with Paypal. I don't remember the Paypal threshold.

Anyway, your sales dating back to February should be included in the next payment, in July, assuming you've met the threshold.
This pretty much covers it. I've been with Smash for two years. They pay quarterly and are very reliable. Paypal is faster, but there are paypal fees.

The delays are because ALL vendors have a delay in paying them. Amazon is the same way. The only difference is they pay monthly--but they are paying for sales from about 60 days previous.
 

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Patrick Skelton said:
Okay..thanks for the info. Will my balance column be updated once they receive payment from the vendors?
When they receive payment from a retailer, the Accrued Sales column figure goes down (because that only tracks sales which have been reported but not paid for yet), and the Current Account Balance up the top of the page, on the left, goes up by the same amount (sometimes slightly less, depending on when VAT/GST is calculated in - sometimes this is done at retailer payment, I think).

I've found them very good. The delay in reporting is certainly not ideal for the impatient among us (I, myself, am never to be found whining that I want to know how my B&N sales are going, for example... ;D ), but it's almost inevitable with this sort of distribution model. Considering the price points of most of my books (free or 99c), there's no way I'd abandon Smashwords to go direct to the retailers - I'd lose quite a bit of money and promotional muscle doing so.
 

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BTW, the next payment should go out very early August - they pay within 45 days of the end of the quarter, and include any sales payments made by retailers within that quarter (to my understanding).
 

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They haven't paid me in about two years, but I haven't gone over the minimum. I should get something the next time they pay.
 

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We must remember that Smash is working in an 'experience' vacuum and are, essentially, making it up as they go along. Their author payment system is a legacy of trad publishing and I'm sure it won't last too long in the digital publishing era. At least, I hope it won't. Sitting on other people's money for 3 months for no other reason than they used to do it in the old days is almost immoral.

To be honest, I'd prefer they get their vetting process as good as it can be rather than spend too many valuable resources on author payments. When they can get books approved/rejected for their premium cataogue within 3 days, then it would be time to look at payments.

 
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This is the old payment system that is helping bring down the traditional publishers.

Payment periods of 60 to 90 days AFTER payment received from the stores were set up when accounting was down by clerks using pen and ink. The system remained even when calculators came along. But today in the COMPUTER age, it is time to get away from it.

We certainly should not let internet companies drag this antiquated payment system into the computer age.

Book stores know at the end of each day which books sold. If the book store has a 14-day, or 30-day return period, then there is no need to continue to withhold our food money.

Well, there is a need for the book stores and distributors, since they get to earn interest on the 60 to 90 day float period.

Amazon does have a 60-day pay period AFTER the sale, but it has a low minimum of $10, and it sends the money to your bank.

It is the middlemen (so-called distributors) that continue to clog the payment system. Instead of letting Smashwords, or another "distributor" delay, and take a cut of my money, I perfer to upload directly to other retail sities.

Otherwise, we are crying over a payment system that WE are helping drag into the computer age.
 

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Carl246 said:
Once a month springs to mind just like everyone else.
*nods* Would be nice. I'm not sure how reasonable it would be, though, given that the majority of the payouts are from distributed sales. What sort of lag between payment received from retailer and payment to author would you consider acceptable if you got monthly payments?
 

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nomesque said:
*nods* Would be nice. I'm not sure how reasonable it would be, though, given that the majority of the payouts are from distributed sales. What sort of lag between payment received from retailer and payment to author would you consider acceptable if you got monthly payments?
The same as Amazon, two months. Every month we got paid would be for two months previous. That way they'd have plenty of time to collect the money and pay it out. I see no reason why that couldn't be done.

Carl
 

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The issue is their distribution network payments, which quite frankly, are identical to what you'd find if you had a traditional publisher.  Authors with a trad publisher get paid quarterly, with a 3-6 month delay between when a book is sold and when the bookstore pays the publisher (which then pays the author).  Barnes and Noble has paid Smashwords through Feb. 23.  It has reported sales through May 15, but won't actually pay Smashwords until June 30th, for books sold Jan.23-April 23.  Same with Apple, Sony, etc. 

It is an antiquated system, but that is not Smashwords' doing.  It is the way Barnes and Noble pays all its publishers.  Harper Collins is getting paid quarterly exactly the same way. 
 

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I can't see a reason for smash not paying for sales on their website and their affiliate network at the end of every month. They have the money, so why not pay it? The premium catalog is a different story because it appears the flow of money from B&N, Apple, Sony et al is erratic.  

Everything takes time, however, and I'm for cutting Mark and friends a bit of slack on this issue.
 
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