Ingram Moving to Month-End Accounting Period Jan. 2017

Ingram Moving to Month-End Accounting Period Jan. 2017

 

UPDATE: We’re always striving to make doing business with IngramSpark, a publishing platform offered by Lightning Source Inc., even easier. You spoke, and we listened. We are moving to a month-end accounting period (e.g. July 1 – July 31) to better align with your accounting periods. This hopefully makes it easier to prepare your statements. Please contact your account manager with any questions.

 

We’re always striving to make doing business with IngramSpark even easier. Many of you have vocalized the desire to align our accounting periods and report financial statements with yours. You spoke, and we listened.

 

Currently, IngramSpark processes transactions and issues monthly statements to our publishers based on the Ingram accounting month-end calendar. Our calendar has been based on a “4–4–5 calendar”, which recognizes three months in each quarter that are divided into 4 weeks (1st month), 4 weeks (2nd month) and 5 weeks (3rd month). 

 

We will begin closing our accounting periods based on calendar months (e.g., July 1 – July 31, 2017) beginning January 2017.

 

We hope this change makes aligning your accounting statements with us even easier.

 

We’ve made some FAQs for you.  If you still have questions, please contact the Customer Support team for any questions.

 

FAQs

 

Q: What is a 4-4-5 calendar? 

A: Ingram Content Group has always closed each accounting month on a Friday. This method recognizes three months in each quarter that are divided into 4 weeks (1st month), 4 weeks (2nd month) and 5 weeks (3rd month).  Example: For 2016, Ingram closed January on Friday, Jan. 29 (4 weeks), closed February on Friday, Feb. 26 (4 weeks) and closed March on Friday, April 1 (5 weeks).

 

Q: Why is Ingram Content Group changing their accounting months from a 4-4-5 calendar to a standard calendar month-end?

A: Many of our publishers use a standard calendar month-end to close their accounting months, and Ingram wants to be in alignment with our publishers.

 

Q: How will the change to a standard calendar month-end impact our publishers? 

A: This will be a very minimal change for our publishers.  The monthly publisher compensation statements (and other monthly reports) that are sent to our publishers will continue to be issued monthly to our publishers.  The only difference is, beginning in January 2017, these publisher compensation statements will include all sales for the standard calendar month, instead of all sales for the Ingram 4-4-5 accounting months.  The total sales for the year reported in publisher compensation statements would be the same using the 4-4-5 calendar versus the calendar month-end reporting.

 

 

 

 

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