Also, remember that each layer of your author-publisher-distributor stream has its own schedule. Let's say a book was sold through Sony, and let's say Sony reports to Smashwords every two months, but actually pays Smashwords thirty days after that; then Smashwords reports every quarter, but pays thirty days after that. Then your e-publisher (unless you're self published) is reporting all third party sales back to you twice a year, and probably paying thirty days after that.
It's quite possible for the delays to mount, one atop the other, and to keep your money from you for up to a year. More layers mean more delays, so this is a case where self-published authors have an advantage over those with a publishing contract. The other advantage that self published e-book authors have is that every additional layer will keep some of the revenue. They must, or they wouldn't survive.
(This might be the moment when it's time to ask: Is your e-publisher actually doing anything for you? Both Smashwords and Amazon are so easy to work with directly, and they are the true publishers. So is there a reason to put a payment-hungry publisher between you and your money? The answer is yes only if the publisher truly earns its keep via aggressive marketing. And remember, if they go bankrupt while holding your royalties, you're SOL.)
--WB




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