You're able to see a breakdown of your publication balance by category when you visit the "Financial activity" section of the platform. To navigate there, go to the avatar in the top right corner and select "Publication settings" from the dropdown. If you have more than one publication, select the one you'd like to view from the top left and click "Financial activity" on the left side of the screen.
You'll notice a list of categories and their individual balances, which total the publication's current balance.
1. So, what types of transactions fall under each of these categories?
Content: Any funds your team contracts for content production will be uploaded to the content bucket. Funds are drawn down from content every time a story is debited from your publication.
Editor: Fixed hour funds are uploaded to this bucket, and monthly fixed editor transactions are debited from here halfway through the month for the month prior.
Editor flex: This bank of funds is used to pay for additional ME hours as needed, as well as hours worked by your Contently creative managers including: Photo Editors, Art Directors, Multimedia Project Managers, and Copy Editors. If you need more funds, please reach out to your Contently contact.
Strategy: If your team has enlisted in our strategy services, funds for those deliverables will appear in the strategy bucket. Upon each delivery, funds will be debited from here.
Distribution: If your team is engaging in our distribution services, contracted funds will be uploaded to the distribution bucket and drawn down from there.
2. Preventing A Negative Content Balance
Starting in October 2020, teams will no longer be able to commission new content when its cost exceeds the publication’s current content balance. In the event this happens, you’ll receive a notification that redirects you to request an invoice from your Customer Success Lead. Please keep in mind that this notification takes ‘pending’ story payments into account as well (costs associated with workflow steps that have not yet been reached). For example, if your current content balance is $500, but you currently have $300 worth of pending payments associated with future workflow steps, you’ll be blocked from creating a story worth $250.
To prevent any interruption in service, Contently recommends keeping a minimum content balance of $3,000 at all times. When your balance drops below this number, you’ll receive an in-platform notification to alert you that funds are running low. This notification will appear on the stories library page for all owners and managers on your publication no more than once every 30 days for each user.
Questions? Please contact your Customer Success representative.
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