Booksquare

We will admit that we’re big fans of the split accounting concept. We like that authors get paid in a timely manner (checks do not go to the agent for processing before the author receives a share), and we like that authors get paid in the event something happens to the agent. It’s not personal and doesn’t create additional work for the agent (if anything, it reduces administrative costs…yes, we know, we give, we give, we give). Today’s cautionary tale (aka a memo from the Author’s Guild) reminds us that it is indeed your money, and you should do everything in your power to protect yourself.

• Agent Nancy Ellis Settles Suit Over Client’s Funds – Guild Seeks Further Information & Advises Clients to Confirm Split Accounting. (via Publisher’s Lunch)