Staying on top of your income and expenses is crucial for gaining a clear understanding of your art business or collection. Artwork Archive provides a convenient way to record and categorize your expenses, making it easy to track where your money is going and export the data to an accounting software like Quickbooks.
Please note: Expense Tracking is only available on the Artist Professional, Artist Master, and all Organization accounts types.
If you're unsure about how to categorize your expenses, refer to the following list of expense categories used in Artwork Archive.
Expense Categories
Appraisals: Costs related to having artwork professionally appraised.
Commissions and Fees: Commissions paid to galleries, agents, calls-for-entry, etc.
Conservation and Maintenance: Costs for restoring, repairing, or maintaining artwork.
Documentation and Photography: Expenses for photographing artwork or documentation.
Donation: Charitable contributions made by the business.
Fabricating: Expenses for materials and services to fabricate art.
Framing: Framing costs for preparing artwork for exhibition or sale.
Honorariums: Payment for professional services or speaking engagements.
Installation: Costs to install artworks for exhibitions or commissions.
Insurance: Premiums paid for business insurance policies.
Legal and Professional Services: Accounting, legal, consulting fees.
Marketing: Advertising, promotional, and marketing expenses.
Materials: Art supplies, raw materials for creating art.
Meals and Entertainment: Business meals and entertainment expenses.
Membership Dues: Dues paid to professional organizations.
Office Expenses: General office supplies and expenses.
Online Services: Subscriptions for online software or services.
Other Business Expenses: Miscellaneous operating expenses.
Payment Processing Fees: Fees paid to process customer payments.
Postage: Mailing, shipping, and delivery costs.
Printing: Printing and reproduction costs.
Professional Development: Education, classes, conferences, and training.
Rent and Lease: Rent for studio, office, storage, or equipment.
Shipping: Costs to transport artwork.
Storage: Art storage fees.
Supplies: General operating supplies.
Tax and Licenses: Business license fees, taxes, etc.
Travel Expenses: Costs for business-related travel.
Utilities: Electricity, gas, water, etc. for studio/office.
Disclaimer: This list of expense categories is provided as a general guide for Artwork Archive users. While these categories are commonly used in the art industry and often align with tax reporting requirements, they may not be exhaustive or universally applicable. Please consult with a qualified accountant or tax professional for advice on categorizing expenses for your specific situation and tax jurisdiction.
Exporting Your Expenses
To export your expenses from Artwork Archive, follow these simple steps:
Navigate to the Income tab in your Artwork Archive account.
Click on the New Report button.
You have two options:
Generate an Income and Expense Report directly within Artwork Archive, or
Export your data to an Excel or CSV file for further analysis or to import into other accounting software.
Did you know?
To refine your exported data, you can apply filters such as date range or expense category before exporting. This is particularly useful during tax season when you need to report expenses for a particular year.
