The Income section in Artwork Archive is a versatile tool designed to help artists, collectors, and organizations manage their art-related finances all in one place. Whether you're tracking sales, expenses, or creating invoices, this guide will help you navigate the key features of the Income section.
Accessing the Income Section
Log in to your Artwork Archive account
Look for the Income page in the left-side menu
Click on Income to expand the submenu
Key Components
The Income section consists of three main components:
Revenue/Expenses (Available on the Artist Professional, Master, and all Organization accounts.)
Sales/Donations
Invoices
1. Revenue/Expenses
Please note: Expense Tracking is only available for Artist Professional, Master, and all Organization accounts. Learn more about the different account types here.
This feature allows you to:
Record various types of income and expenses
Categorize transactions for easy tracking
Associate expenses with specific artworks or contacts
Generate Income & Expense reports
2. Sales/Donations
This section helps you:
Keep track of artwork sales or acquisitions
Record donations
Generate reports on your sales or acquisition history
3. Invoices
Please note: All account types have the ability to generate PDF invoices. However, payment processing with Paypal for digital invoices is only available on the Artist Professional, Master, Collector Premier, and all Organization accounts.
The Invoices page allows you to:
Create professional invoices
Send invoices directly to clients
Track past invoices and payment status
Tips for Getting Started
Regular updates: Make it a habit to log your transactions regularly for accurate record-keeping.
Use categories: Consistently categorize your income and expenses for easier reporting and analysis.
Link to artworks: When possible, associate expenses with specific artworks to track the true cost of each piece.
Customize invoices: Take time to set up your invoice template with your branding for a professional look.
Explore reports: Familiarize yourself with the various reports available to gain insights into your financial activities.
Remember, while Artwork Archive provides these tools for financial management, it's always recommended to consult with a professional accountant for specific tax or financial advice.
For more detailed information on specific features or workflows, please refer to our other help documents or contact our support team.