• Relating normally to output of one kind or another or a sum relating to the use of an asset,e.g. how many per book sold by a publisher or how much tonnage on the output of ore from a mine

For accounting purpose, how to treat royalties paid and royalties received?

For royalties paid, it represent a charge or debit against Revenue Account or in the case of manufacturing concern, a charge against the Manufacturing Account

For royalties received, it represents income and as such will be credited to the Revenue Account