In my apparently misguided effort to get away from KDP, I put up my books for sale on some other websites during the month of September. As of now, I still have not been paid by Kobo, ibooks, or lulu. I sent them e-mails inquiring about my money, but didn't even get an email of acknowledgement. To add insult to injury, Amazon slashed my royalties for the month of October for no apparent reason. The payment does not match the amount on the sales report THEY sent me. Has anyone had similar issues with getting paid? Would love to hear your tales of woe.
How are you signed up with Kobo and ibooks? Did you go directly to them or are you going through a service for them?
Personally I"m also wondering about Kobo myself. My father's text books were selling fine for months on the Kobo, but for the past two months he has not sold a single book. I have not seen a drop in sales with Amazon and B&N. It seems odd to have such a drop off.
I signed up directly with Kobo. They have a program for authors and publishers. The books didn't sell all that well, but they never bothered to pay me.
Another thing you can do is go to Kobo site and then to your account. Make sure they have all the info they need to get the money to you accurately. For direct deposit make sure your account numbers are correct. For mail make sure to include apartment number if you have one.Then search around their fine print. Someplace on your account page or maybe on the site itself it will explain their payment schedule.
I don't know what happened at Amazon but for the others I think it takes at least 90 days after your sales reach a minimum balance.
For example: I use CreateSpace, my minimum balance is $10. Once I reach that balance then it is 30 days until I receive the money, I have it direct deposited. However, if the novel is sold on Amazon it is 90 days after I reach the balance.
Another problem I have run into is most places tally up at the end of the month. So if you sold a book on say the 2nd or 3rd day of the month then it takes the rest of the month before they know what they owe you, then they send your money 90 days later.
It could easy be 120 days before you get the money. The only time that is a real problem is the very first payment. Because if you sell books every month then you will start receiving money every month, only that money is over 90 days old.
Thank you, Chuck. I've actually been doing this for some time now, so i do know about the delay in payments. All the information is correct and the required time has passed. I have to say that Amazon did come through. They appologized for their mistake and reimbursed me for all the missing royalties. At least they respond when contacted and admit when the mistake is theirs. Can't say the same for Kobo. Will not be doing business with them again.