I am new to iStock and have completed the payment options and tax interview. The royalty section still says "royalties will not be available until first transaction has occurred, please try again next month." Should i just wait and keep uploading photos or do I have to do something???

Currently they only provide info on sales that happened in June or earlier. How new to iStock are you? If you uploaded your port in July, the soonest you'll see any reports will be around August 20.